Q:

What percentage of a paycheck goes to taxes?

A:

Quick Answer

Most U.S. taxpayers with a traditional salary pay 6.2 percent of each paycheck as taxes for social security and 1.45 percent for Medicare, according to the California Tax Service Station. Additional amounts may be deducted from each paycheck for federal withholding or for state fees such as unemployment insurance.

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What percentage of a paycheck goes to taxes?
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Full Answer

Withholding refers to money taken out of a paycheck and sent directly to the federal government as part of an employee's yearly income tax, according to the Internal Revenue Service (IRS). When employees submit their taxes for the year, the amount of withholding already paid is subtracted from remaining tax liabilities. Employees can typically choose the amount of money taken out through withholding, according to the IRS.

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Related Questions

  • Q:

    What percentage do they take out for taxes?

    A:

    Income tax rates withheld from a paycheck range from 0 to 39.6 percent, as of 2014. The percentage taken out of a paycheck for taxes depends on the person's income, marital status and allowances claimed on that person's W-4 form, according to Washington State University.

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  • Q:

    How do employers know the amount of taxes to withhold from a weekly paycheck?

    A:

    Employers calculate the amount of taxes withheld from each paycheck by taking several factors into account, including the frequency of the payroll period, employee's marital status, amount of claimed exemptions and amount of the payment, according to BizFilings. The withholding includes federal and sometimes state and local taxes.

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  • Q:

    How much of my paycheck goes to taxes?

    A:

    Determining the amount of taxes that are to be withheld from wages depends on the income bracket an individual falls into. Forbes provides a detailed list of each income bracket used to determine yearly tax deductions.

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  • Q:

    What is the percentage taken out for taxes on a paycheck?

    A:

    Precise percentages vary based on state, but according to the Ventures Scholars Program, four primary taxes are withheld from paychecks: federal income tax, state income tax, social security tax and Medicare tax. According to The Law Dictionary, taxes are withheld on a sliding scale that extracts more income from higher-earning individuals, topping out at 39.6 percent in 2014.

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