Taxes and Tax Preparation
Salary and Pay Rates

What are the regular taxes and deductions from your monthly paycheck?

112113114

Top Answer
User Avatar
Wiki User
2005-11-03 20:36:37
2005-11-03 20:36:37

This will depend upon several variables such as the State you live in, the amount of pay and your companies optional elections. Here's few items that you can almost always expect (unless you just make too little): 1. Federal Income Tax - This is based on a calculation that takes into account the frequency of your pay and the amount of the pay. 2. Medicare - This is a set amount that will always be applied to your pay. 3. Social Security - This is a set amount that will always be applied to your pay, however it does have an annual maximum. 4. Insurance - If you company offers health insurance and you have agreed to the terms, generally a set amount will be applied. 5. 401k, IRA, Retirement - If your company offers a type of retirement deduction program then this amount will be applied. 6. Uniforms, loans, etc. - Some companies that require their employees to purchase uniforms will purchase the uniforms for the employee and then charge that amount back to them at a set amount per pay check. This can be also for employer granted loans and/or to pay back advances on previous pay. 7. State Income Tax - Some stated have an income tax. If you live and/or work in a state that does, then this amount will be deducted as well. If you have deductions that you do not understand or do not think you have agreed to, then you should consult with your supervisor as soon as possible. Hope this helps.

456
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions

User Avatar

It is your paycheck before any deductions, taxes or benefits are taken out. Simply how many hours you work multiplied by your hourly rate.

User Avatar

It means your gross income minus the net tax deductions, the tax deductions as federal income taxes, state taxes, Fica, medicare, SUI/SDI. Other taxes are not included, such as, life insurance, charity, or debts that are taken automatic from your paycheck.

User Avatar

The taxes are sent to the taxing authorities. For example, your federal income taxes and Social Security taxes are sent to the IRS. State taxes are sent to your state tax department. Other deductions are sent to the appropriate party. Charity deductions are sent to the charity. Insurance deductions are sent to the insurance company (or kept by your employer if they are self-insured). Savings deductions are sent to the savings institution. 401k deductions are sent to the 401k trustee.

User Avatar

If you are an independent contractor in Georgia, you should not have a regular paycheck that can be garnished. If you have a regular paycheck from one specific employer and taxes are taken out, it can be garnished.

User Avatar

By the time the taxes and deductions are taken out, what's left in our paycheck is a pretty dinky amount.

User Avatar

A gross monthly salary is the amount of money you make before taxes and withholding. The net amount is what is left after deductions.

User Avatar

The percentage of taxes taken out of a paycheck depends on the number of exemptions you are allowed to claim. The average amount taken out is 15% or more for deductions including social security and income tax.

User Avatar

income tax withheld from each paycheck and sent to the state or federal gov't Employer deductions from employees' earnings to pay employees' taxes.

User Avatar

To pay for benefits you receive and must contribute to, and to assure that things tha you will be responsible for (like taxes), you have the ability and diciplined savings to pay.

User Avatar

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.

User Avatar

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.

User Avatar

state taxes, federal taxes, and local taxes.

User Avatar

Workers spend quite a bit of their money paying taxes. These taxes include social security and income taxes. Some workers have other deductions taken out of their paycheck.

User Avatar

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.

User Avatar

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.

User Avatar

what is used to determine the amount of federal taxes withheld from a paycheck

User Avatar

$1644.90 is the monthly base pay of a PFC. Half that amount minus taxes would be each paycheck. It is based on the rank and the time in service for the member.

User Avatar

Net paycheck could also be referred to as your take-home pay. That is your actual payroll amount (Gross earnings) minus deductions like health insurance and taxes.

User Avatar

A paycheck is the money received when working a business. The paycheck will include the amount they have earned after taxes have been taken out.

User Avatar

Your annual income is generally your net income - what you earned (gross income) minus the taxes and pre-tax benefits you pay for prior to getting your paycheck (deductions).

User Avatar

I want to start taking taxes out of my monthly socialist check

User Avatar

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.

User Avatar

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.

User Avatar

Can I add my monthly health insurance payment from my employer to my medical deductions, such as medications prescribed, office visits, etc..


Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.