Taxes from a teens paycheck ?
I am about to start working and I will be receiving roughly about 660 dollars am month , which comes up to about 165 a week. I need need to know exactly how much I would get back after taxes each month? I live in GA and I know that every state is different. Please help me or at least tell me how I would calculate the taxes that will be taken from my paycheck.
Comments
Your employer payroll department will have the final say on the amounts that they will be required to withhold OUT of your GROSS wages earning for each pay period before that will issue out to you your NET take home paycheck at that time.
We can only Guesstimate the same as you should be able to do for this purpose.
Single -0- Allowances monthly salary of 660 for this Guesstimate RIGHT.
GA.
Gross pay $660.00
Federal income tax $48.08
Social Security $27.72
Medicare $9.57
Georgia $13.42
Net pay (take home) $561.21
http://www.suburbancomputer.com/tips_calculator.ph...
Hope that you find the above enclosed information useful. 07/26/2012
I live in NC and a good solid number I go by is 25% of your EARNED INCOME. Not sure if you pay state taxes in Georgia but here in NC we do. So, I say 15% to Federal and 10% to State. Each year I get a return from both State and Federal ranging from State which is 500-2000 dollars and Federal 2000-6000. It also depends on which AGI (Advanced Gross Income) bracket you fall under. However, being a teen you are more than likely the lower level bracket so less will be taken out of your check for taxes. Remember taxes has NOTHING to do with your age but EVERYTHING to do with your EARNED INCOME!!
you do no longer state the type you filed your W-4 so the deduction for earnings tax can't be ascertained or you have 5.sixty 5% for FICA possibly a million% for a state worker tax in case you do no longer anticipate earning $5950 for 2012 you have got filed your W-4 as exempt and no earnings taxes may be withheld
you will have 5.65% withheld for FICA, maybe 1 %for a state employee tax
if you a minor, a student, do not anticipate earning $5950 for 2012 or had an income tax liability the previous year, you can file your W-4 as exempt and no income taxes will be withheld