| View Question |
|
|
 | ||
|
| Subject:
Social security witholding
Category: Business and Money Asked by: leila27-ga List Price: $3.00 |
Posted:
06 Aug 2006 22:43 PDT
Expires: 05 Sep 2006 22:43 PDT Question ID: 753294 |
I will make a gross salary of 66,000 per year at a new job and am trying to estimate my take-home pay after all taxes. I have used tax preparation software (TurboTax) to estimate my federal, state and city tax on this new salary. However, it is not clear to me whether programs such as TurboTax include payroll taxes (Social Security and Medicare) in their calculations or just general income taxes. In other words, if it tells me that my federal tax liability is 11,121 and my combined city/state tax is 5,556, do I still have to count on an additional amount being witheld from my paycheck to cover Social Security and Medicare taxes? |
| ||
|
| There is no answer at this time. |
| ||
|
| Subject:
Re: Social security witholding
From: eastindia-ga on 07 Aug 2006 02:48 PDT |
http://ga.efederalincometaxtables.com/ Please Visit this Website then You will get the Information About it |
| Subject:
Re: Social security witholding
From: jack_of_few_trades-ga on 07 Aug 2006 05:14 PDT |
Social Security: 6.2% Medicare: 1.45% This will be calculated from your total salary (no deductions). There are a couple exceptions such as depositing money into an FSA, but few people seem to take advantage of these. (6.2% + 1.45%) * $66,000 = $5049. This amount will be taken directly out of your paycheck and it is in addition to State & Federal taxes. |
If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you. |
| Search Google Answers for |
| Google Home - Answers FAQ - Terms of Service - Privacy Policy |