Which taxes are taken from your gross pay?

Answer 1

It depends on a zillion things.

There are many things deducted, many of which may be taxes depending on what you define taxes as.

The term gross can't be used in this circumstance either...as each separate thing defines the wages it is applicable to differently.

For example: FICA (or social security)...is taken...and it has 2 components that add up to a total of 15.30% of which only half comes from the employee 9the employer pays the other half). Of that 7.65% most of it is limited to the first @100K of earnings (and earnings includes 401k contributions, etc.), but a small %, the Medical portion, continues without any earnings limit.

Income Taxes are taken, yes, but they are controlled by your W-4 status (so your potential deductions from taxable income are involved), are only paid over to the government as an estimate on your behalf, and if your return and actual tax for the year is different, you get the excess refunded or pay it. Also, many things change the definition of what earnings are considered for this withholding. Finally, State income taxes (and even local/city) ones may also be involved.

Then depending on locations and the laws there...you may well have other things deducted, like workmans comp, unemployment insurance, etc. Again, what wages are considered are each defined differently for each.

They are all virtually always shown on your pay stub...for both the current period and YTD. The one doing the payroll should be able to answer any specific questions as to who or why...but they are virtually all absolutely required. (Clearly, there is no advantage to the employer making unneeded withholdings...it just costs them cash flow, accounting costs, possible penalties, and they want their employees to receive as much as possible).