0
I am a freelancer and wonder at what dollar amount an employer needs to withhold for taxes and social security?
Wiki User
∙ 12y ago
An employer withholds 7.65% and contributes 7.65%. As a free-lancer, you are probably not an employee but rather a contractor. You, therefore, must pay self-employment tax, which is 15.30% (7.65% X 2).
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
How many taxes should be taken out of your paycheck?
Social Security and medicare insurance amount of 7.65% will be withheld from your gross pay plus the other amount the employer payroll department will be required to withhold from your gross pay before they issue you your NET take home paycheck for the pay period. Then you will also have other federal income tax amounts and other items that your employer payroll department will be required to withhold from your gross earnings. You should ask the employer payroll department for the amounts that they will have to withhold from your gross earnings.
What is the maximum fee an employer can charge an employee for wage withholding in IN?
They cannot charge any fee for performing the required payroll functions of an employer. They are required to withhold. The amount they must withhold is also defined.
What is the maximum fee an employer can charge an employee for wage withholding in ND?
They cannot charge any fee for performing the required payroll functions of an employer. They are required to withhold. The amount they must withhold is also defined.
Can an employer take taxes out of your paycheck if you did not fill out a tax form?
Yes. Form W-4 (Employee's Withholding Allowance Certificate) gives the information that your employer needs to calculate the correct amount of taxes (income, Medicare, Social Security) to withhold from your earnings. If you don't fill out a W-4 form, then the IRS requires your employer to withhold taxes at the highest rate, which is Single with no dependent allowances.
Is your employer responsible for taxing you corectly?
Your employer is responsible for collecting the correct amount of Social Security and Medicare taxes. Your employer is also responsible for withholding the amount that should be withheld based on the W-4 form that you filled out and gave him. You control the amount to be withheld based on what you put down on the W-4 form. This is rarely, if ever, the actual amount of tax you owe. If the withholding is not enough to cover the taxes you owe or if the employer fails to withhold taxes, you are still responsible for paying them directly to the government.
Why is fica taking more taxes than your state and federal taxes?
Because the social security and medicare tax (FICA) rate does not change from the 7.65% required amount that the employer is required to withhold from your gross earnings for the pay period.
How much tax is taken out of 2000 dollars?
You do not have a set percentage amount for this purpose. For the tax year 2010 the social security and medicare tax is withheld by your employer payroll department from your first dollar of your gross earnings at the 7.65% rate. The 7.65% amount is matched by your employer for a total of 15.3% contribution to the SSA insurance trustee. Then you will also have other federal income tax amounts and other items that your employer payroll department will be required to withhold from your gross earnings before you will be issued your NET TAKE HOME paycheck. You should ask the employer payroll department for the amounts that they will have to withhold from your gross earnings.
How much federal tax is taken out of 2000 dollars?
You do not have a set percentage amount for this purpose. For the tax year 2010 the social security and medicare tax is withheld by your employer payroll department from your first dollar of your gross earnings at the 7.65% rate. The 7.65% amount is matched by your employer for a total of 15.3% contribution to the SSA insurance trustee. Then you will also have other federal income tax amounts and other items that your employer payroll department will be required to withhold from your gross earnings before you will be issued your NET TAKE HOME paycheck. You should ask the employer payroll department for the amounts that they will have to withhold from your gross earnings.
What percentage of your social security check should you be deducting for your federal taxes?
From your social security benefit amount you will have to determine the amount that you would want the social security administration to withhold for income taxes before they issue your net SSB check amount.Go to the IRS gov website and use the search box for W-4V Voluntary Withholding Request and choose the percentage amount that you would want them to withhold from your gross benefit amount and get it to the SSA office.You NEVER do have any deductions for federal taxes or other items from your net take home paycheck when it is issued to you. The net amount that is on the paycheck that you have in your hand is your net pay for the pay period after all of the federal taxes and other necessary withholding amounts have been withheld from your gross earnings by your employer payroll department.You should get the information from your employer payroll department if you really need to know the correct numbers or amount that should be deducted from your gross earnings not from your paycheck.
What is the tax rate for the OSADI portion of social security?
The withholding amount by the employer from your earnings that are subject to the old age survivors disability insurance is 7.65% for the social security and medicare tax amount and the employer matches that amount for a total amount of 15.3%. When you have one employer the amount of FICA Old Age Survivor and Disability Insurance for your social security would stop once your wages with the withheld social security amount reach 106800 and social security amount withheld would be 6621.60. You do NOT have any cap LIMIT on the MEDICARE insurance contribution amount. The Employer Medicare 1.45% and the employee 1.45% the total medicare insurance amount of 3.9% will continue to be paid on all of you wages that are subject to the medicare insurance tax. For a self employed taxpayer the amount would be 15.3% on the net profit from the business operation.
What is the 2010 social security witholding amount?
For the year 2010, When you have one employer the amount of FICA (OASDI) Old Age Survivor and Disability Insurance) for your social security would stop once your wages with the withheld social security amount reach 106800 and social security amount withheld would be 6621.60. Employer and employee each contribute 7.65% for the total 15.3% amount. You do NOT have any cap LIMIT on the MEDICARE insurance contribution amount so the 1.45% amount will continue to be withheld on your earnings over the above limit and will be matched by your employer at the 1.45% amount for a total 3.90% of all of your earned income for the year.
After a garnishment has been ordered how long before it takes effect and they start taking money in Va?
As soon as your employer receives the official papers directing them to withhold the amount.
