Income tax witholdings

yojimbo

yojimbo

Active member
so I just got a paycheck for 380$ ish and i added up my hours and it should have been around 470$ before taxes. does that sound right? approximately 90$ withheld from ONE paycheck? seems like too much to me. at all my other jobs i got around 20-30 taken out from one paycheck at the most. does it vary on how big the check is/how much you make hourly?
 
yeah, it sucks basically.
and yes it does vary per check. I mean it will be a certain % taken out pretty much, so yes the amount taken out on a small check will be less than on a large check.
as an fyi - if you feel that you are having too much taken out, you can re-file your W2 form and change it around.
at the same time, if they're taking a lot out, you'll probably get a larger return next year. if they're barely touching it, you may end up owing money in taxes.
 
i think you meant to say the W4 form which is what you fill out to authorize an employer withholding taxes.
 
Yeah, unfortunately that is about right. By the time the Feds get their piece, & the state gets their piece, you're left with a significantly smaller paycheck. You can adjust your exemption status by filing a new w-4 with your employer as previously mentioned, but be careful that you don't take out too little. You can be faced with fines and penalties for having too little income tax withheld, but I'd guess that you aren't going to have a large enough tax liability for the year to where that would really be an issue.
 
don't you love it? Come work in MA, the state bleeds you dry. We had it on the ballot a few years ago to abolish the state income tax, but the voters killed it.
 
try living in NYC. you pay fed, state AND city taxes. The average Joe with just a W2 pays about 35% of their income to the govt. It gets a little crazy when you have a higher and multiple sources of income. you end up paying about 40%.

 
you should be excited as an American to pay taxes, just think about all the needy people you're helping

uneducated jocks that need a job

single whore mothers who can't afford delivery

drunken hillbillies on disability

 
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