There are many ways to figure it, and of course, even what you consider tax (Unemployment contributions?, FICA?, workers comp?, Federal tax, and State, and city...as city resident or not...etc,) so...questions on why your withholding is what it is should be addressed to whoever is making the calculation, which is done pursuant to the info you provide on your W-4.
If you need to adjust it, because your circumstances require more or less to be withheld to approximate your liability after other income, or special dedcutions you may have...that can be done through them. The amount wittheld, like the amount of tax actually determined to be due, is dependent on many, many factors...such as your maritial and family status, other income and expenses, how other employer benefits are handled (like retirement contributions, health and medical, etc., etc). It is very reasonable to say that even 2 people at the same job making the same salary will commonly have very different amounts withheld.
No deduction on your income tax return for the withheld amounts from your paycheck. All of the information from the W-2 that you receive after the end of the year will show all of the different withheld amounts and is used in filing your income tax return correctly to the IRS.
A shocking 76 percent of Americans live paycheck to paycheck. This is the same across all income brackets, not just the lower ones.
Your gross income is your income before anything is taken out. Your net income is your remaining income after deducting taxes and expenses--so on your paycheck, your net is your "take home pay".
Net income percentage = Net income / Revenue
You can see a W-4 form provided by the Internal Revenue Service (IRS) on the IRS website. You can find the form here: https://www.irs.gov/pub/irs-pdf/fw4.pdf. This form can be used to determine the amount of federal income tax that should be withheld from an employee\'s paycheck. It includes the following sections: Name address and Social Security Number Filing Status Number of Allowances Additional Amount to be Withheld Signature Once you have filled out the W-4 form you should give it to your employer. Your employer will use the form to determine how much federal income tax to withhold from your paycheck.
7.65%
7.65%
Income tax withheld from each paycheck
7.65
You will have to get the correct that will be withheld from your GROSS earnings for the pay period from your employer payroll department as they would be the ONLY on that would know how much they will withhold for your state income tax amount before they issued your NET take home paycheck You do NOT ever have any amounts withheld from your NET TAK HOME PAYCHECK after it is issued to you.
The total Percentage amount of withholding for all items from gross wages or gross income. After the total Percentage amount is withheld from your gross pay amount then your net take home paycheck would be issued to you.
On a typical paycheck in the United States, you will see income taxes withheld and Medicare/Medicaid/Social Security taxes withheld.
Yes it is.
tax
tax
Your employer will be able to give you the total percentage amount that will be withheld form your 70000 paycheck in NYC. And then you will be able to determine the amount net income that you will be bringing home.
withholding tax.