How much federal income tax is taken out of an annual salary of $89,500.00?

---

Clarification of Question by blondie2-ga on 18 Oct 2004 17:22 PDT

No exemptions or deductions -- single status -- just the standard,
minimum federal deducitions.

Hello and thank you for your question.

According to the withholding tables published by the IRS
http://www.irs.gov/pub/irs-pdf/p15t.pdf

The answer is $19,175
(Table 7)
13,295 plus 28% of the excess over 68,500
13,295 + .28(89,500 - 68,500) = 19,175
://www.google.com/search?hl=en&lr=&safe=off&c2coff=1&q=13%2C295+%2B+.28%2889%2C500+-+68%2C500%29&btnG=Search

Search term used:
federal income tax withholding table

Cheers,
Richard-ga

---

Clarification of Answer by richard-ga on 19 Oct 2004 13:13 PDT

Sorry, I should have subtracted one withholding allowance = 3,100
So instead of using 89,500 your employer will calculate based on 86,400
Answer =  $18,307
://www.google.com/search?hl=en&lr=&safe=off&c2coff=1&as_qdr=all&q=13%2C295+%2B+.28%2886%2C400+-+68%2C500%29&btnG=Search

-R

Hi,

The question can't be answered - the amount that is withheld depends
on filing status and how many deductions the person claims and what
programs they use for before tax withholdings -- medical accounts,
child care accounts, etc.. The amount of actual taxes paid depends on
what other deductions, exemptions, etc. the tax payer can claim.

If you want a gross overview, you can check the tax rate tables.

http://www.irs.gov/formspubs/article/0,,id=109877,00.html

You may want to be a bit more specific with your question or you may
find that this is all you really need.

Regards,

bcguide-ga

Thanks for your quick answer!

I don't have any medical or other deductions -- just the standard,
minimum federal deductions.  Can I calculate it this way?

Also -- single status.

Your federal income taxes will be $17,468 (not including social
security, medicare, state taxes, and whatever else taxes Uncle Sam
throws your way).

http://www.irs.gov/individuals/article/0,,id=96196,00.html

Bi-weekly that is $671.85
or
Monthly that is $1455.66

But I do suggest you look into finding deductions.  Interest paid on
your home, charitable donations, certain business expenses, certain
retirement plans, and literally thousands of other things are written
in the tax code waiting to save you $$$ if you take advantage of them.