Anonymous

How Do I Find Out How Much Tax % Is Taken Out Of My Paycheck?

11

11 Answers

Shane Richardson Profile
There are a number of ways through which you can find out the amount of money deducted from your paycheck for taxes. You can simply calculate the percentage tax deducted from your pay by multiplying the total amount of tax deductions by a hundred and then dividing by your salary. For example, if you earn $200 per month and you are deducted $32, your tax in percentage will be as follows.

Total Amount of salary $200

Deducted Amount $32

$200 is 100%

What percentage is $32?

32*100/200= 16%

This is the simplest way of determining the percentage you pay in taxes. However there are a number of factors you will need to understand. Taxation systems are different in different states. Different states charge different percentage of taxes. For this reason, you must be able to correctly calculate your percentage tax using the percentage used where you are.

If it is given to you on your paycheck or tax returns website, you can know your percentage tax by simply adding up the percentages given for each tax deducted. If you cannot correctly calculate this by yourself, you can get a person who clearly understands the taxation policy to do the math for you.

With technology, you can now use the services of online paycheck and tax calculators to determine your percentage tax. While it is easier for someone to trust this task to a website rather than a human being, it is important to note that there are fraudulent websites that have been operating tax scams. Only use a tax calculator that is credible and preferably one that is known and acknowledged by your revenue authorities.

Some of the factors that affect amount of tax you will pay include your salary, the taxation policies and the country you are in.  In most cases, employees pay more tax when their paycheck is bigger. There are different kinds of taxes that employees pay including federal taxes, Medicare taxes and SS taxes. The rates at which taxes are deducted vary from state to state.

Some of the websites where you can enter figures to an online tax calculator and know the percentage tax you pay include www.paycycle.com and www.paycheckcity.com. 
Suhail Ajmal Profile
Suhail Ajmal answered
The tax deduction depends upon the law of the country. If you salary is in the range of tax deduction then you have to consult with tax department for it's deduction formula which is also different for different countries. The tax is deducted on the present salary. The tax amount can be 10% if you lie in the first category according to the law of your country and 20% in the second category. Please check the tax department for the latest policy.
Anonymous Profile
Anonymous answered
240
Claire West Profile
Claire West answered

I know that http://taxform.io/ is quite an accurate taxes calculator. It's a non-paid tool that everyone can use to know the exact figure of your taxation. The results are accurate, I haven't noticed any critical bugs or mistakes, and the interface is really friendly, there's nothing to be confused about.

Karl Sagan Profile
Karl Sagan answered

Little financial problems never knock me down! However, for a long time I could not find a suitable lender, although I only needed 600 $. And I was very glad to find the site http://payday-loans-cash-advance.net/ where subsequently I satisfied my financial needs.

thanked the writer.
Ray  Dart
Ray Dart commented
Don't use http://payday-loans-cash-advance.net/ if you need a loan. They only advance money in Polish Zlotys and expect payment in Flavanian Pobble beads.
Anonymous Profile
Anonymous answered
Depending on how much you make, if you are paid weekly, bi-weekly, monthly, and how many dependents you are claiming - from 10 to 40 per cent
Anonymous Profile
Anonymous answered
My friend gets paid every two weeks she  makes 8.70 a hour. She work 72 hrs every two weeks she owes back taxes in federal. How much should that be.
Kyoko Katayama Profile
Kyoko Katayama answered
That would depend on the answers you provided on your W4 form when you started your job or when you revised your W4 form after you started your job.
Robyn Rothman Profile
Robyn Rothman answered
I'm am assuming you are referring to the US.  If you go to the irs web site and look up the W-4 form, it will explain how withholding tax is figured.    www.irs.gov
Anonymous Profile
Anonymous answered
Depending on if you get paid weekly, monthly, bi-weekly and how many dependents you are claiming - it could be from 10 to 40%

Answer Question

Anonymous