Total Amount of salary $200
Deducted Amount $32
$200 is 100%
What percentage is $32?
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.