Exemption doesn't form part of total income while deduction form part of a total income.
The FICA -MC on your paycheck is a reference to the deduction for Medicare. The Medicare deduction should be 2.9 percent of your total earnings.
http://wiki.answers.com/Q/What_is_Deduction_from_gross_total_income"
$9,000 + $3,000 = $12,000
the total gross pay plus tax deduction
Exemption doesn't form part of total income while deduction form part of a total income.
There are various ways, depending on the type of deduction, or if you want to get the actual deduction or the total remaining after. You can get a percentage and take it away from the amount. For a 10% deduction you could do this to get the deduction, where the initial value is in A2: =A2*10% To get the total remaining after the deduction: =A2-A2*10% Or you could do it this way: =A2*90% If you know the fixed amount to be taken off, say 150, then you could do this: =A2-150 You could calculate all the deductions and then use the SUM function to add them up, if you are looking for total deduction. If it is individual deductions like tax, insurance, pension etc., they can be individually calculated and then added together to get the total deduction for the person.
The FICA -MC on your paycheck is a reference to the deduction for Medicare. The Medicare deduction should be 2.9 percent of your total earnings.
http://wiki.answers.com/Q/What_is_Deduction_from_gross_total_income"
as a deduction from total paid in capital
2294
No. You already got a deduction in advance for the money you put in. You can't have a second deduction. The only time you could get a deduction is if you made any non-deductible contributions to your Traditional IRA (TIRA). If you completely liquidate ALL of your TIRA accounts and the sum total of all the distributions you ever received is less than the total of your non-deductible contributions, then you can claim a miscellaneous itemized deduction (subject to the 2% floor) for the difference.
ghol di ghaim
$9,000 + $3,000 = $12,000
the total gross pay plus tax deduction
For 2012, the Social Security (FICA) deduction is 6.2%; the Medicare deduction is 1.45%, for a total of 7.65%. The employer pays the same percentages.
For 2012, the Social Security (FICA) deduction is 6.2%; the Medicare deduction is 1.45%, for a total of 7.65%. The employer pays the same percentages.