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The IRS has a website (see the Related Link below) that shows taxpayers how to calculate how much Federal Income Taxeswould be owed by the end of the year, based on the taxes already withheld and expected total income you expect and tells you how many allowances you can take (with their permission) to have a minimum owed or refunded (you get to keep the 'taxes' you wouldn't have deducted, during the year). This only pertains to the federal, not state or insurance, etc. deductions. It is interactive and does not require you to input any personal information, such as Social Security number, etc. It's like a work sheet.
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc that they will have to withhold from your hourly pay or gross pay for the pay period.
After the withheld amount for all taxes is subtracted from your gross wages (earned income) your paycheck will be issued for the net amount of your earning (wages).
There is no specific fixed amount or percent. Two people working at the same job, making the same wage may (an almost always do) have much different amounts required to be withheld. THE AMOUNT OR PERCENT IS ENTIRELY WITHIN YOUR CONTROL. YOU ESSENTIALLY TELL THE EMPLOYER HOW MUCH BY PROPERLY (or not) FILING YOUR W-4. It does not effect the tax you ultimately pay, just how much you have paid toward it.
It depends on many, many things, not the least of which is what you consider tax. Many people group all their withholding as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax.
The amount of tax withheld also depends on many other things, obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be required), as well as your filing status, number of dependents and other deductions (like interest on a mortgage) or contributions to 401K, or medical and other benefits you selected, etc., etc.
All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to. The variations are so numerous that again, it is fair to say that it would be uncommon for 2 people, working at the same job making the same salary would have the same amount withheld.
There are even a number of different legal ways for the payroll provider to calculate the amount to withhold considering all the above, but overall they make only a small difference.
Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty and interest charges). Again, adjusting your W-4 is the way to correct for any of these circumstances. Just follow the instructions and examples for that form and you should have a very close amount for what is needed withheld for your situation, if for any number of reasons including those above, the situation changes... you will need to change the W-4.
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc that they will have to withhold from your hourly pay or gross pay for the pay period.
You would add all of your gross taxable wages from the W-2 forms box 1 wages, salaries, tips, etc and any other net profit from other earnings that you have in your hand and that amount would be a added to all of all of your other worldwide gross income total and that is the amount of income that would be used to start with to calculate your estimated taxes for the year.
You can find the estimated tax worksheet and instructions by using the below enclosed information
If you would like to do some estimated tax calculations you would need to go to the IRS.gov web site and use the search box for 1040ES go to page 8 for the 2010 Tax Rate Schedules and page 7 for the worksheet.
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc that they will have to withhold from your hourly pay or gross pay for the pay period.
You would add all of your gross taxable wages from the W-2 forms box 1 wages, salaries, tips, etc and any other net profit from other earnings that you have in your hand and that amount would be a added to all of all of your other worldwide gross income total and that is the amount of income that would be used to start with to calculate your estimated taxes for the year.
You can find the estimated tax worksheet and instructions by using the below enclosed information
If you would like to do some estimated tax calculations you would need to go to the IRS.gov web site and use the search box for 1040ES go to page 8 for the 2010 Tax Rate Schedules and page 7 for the worksheet.
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How much do I need to make to get a tax refund of 18000.00?
It's not important how much you make, its important how much you had withheld from your paycheck.The refund that you get from the IRS is just all of the money that was withheld from your paycheck throughout the year, minus what you actually owed in taxes.
How much money do ASDA make in a year?
a lot
How much will you get back on your income tax?
You will receive however much extra you paid/had withheld than what you owed the IRS. There is no way of knowing how much without filling out a tax return. A couple hundred, maybe more, you might get nothing and end up owing the IRS money. It depends on how much you make, if you had any work related expenses (those are tax deductible, if you can claim any dependents, if you are married, etc. Generally, if you make less than $20,000 a year you can expect to receive some money back -- unless you work as a contractor and choose NOT to have money withheld from your check for tax, then you might owe the IRS.
What does the form w2 mean?
It reports to both the employee and to the IRS, who each get a copy, how much was earned and how much was withheld, (and even how much was paid or spent on benefits). This information is critical to preparing a tax return and for the employee to receive credit for the amounts of tax withheld (as a prepayment) from his pay during the year, as well as to assure things like Social Security and insurance benefits are properly recorded and in place.
How much money do bakers make in a year?
how much money do bakers make a year?
If you make 32000 a year how much will you make bi-weekly?
If I make $32,000 a year how much is my bi-weekly pay?
You make 32000 per year how much do you make per hour?
Need more info: 32000/weeks/hours $32,000 per year / 52 weeks per year / 40 hours per week = 15.3846153846154 About $15.38 per hour.
How much is 32000 dollars a year?
$32000/year$2666.67/month$15.38/hourtry using the online calculator linked below. you can estimate how much will you get in every pay period.
How much a week is 32000 pounds a year?
Roughly 615
How much do I need to make to get a tax refund of 18000.00?
It's not important how much you make, its important how much you had withheld from your paycheck.The refund that you get from the IRS is just all of the money that was withheld from your paycheck throughout the year, minus what you actually owed in taxes.
If you make 32000 a year what is your hourly pay?
$15.38 per hour.
If earning 32000 a year hour much an hour?
$15.38 per hour.
How much does a mechanic insulator make in a year?
A Mechanical Insulator's salary is between 32000 and 48000 dollars a year. Inside the career in Administrative, Support and Waste Management Services can earn $56690.
Is 32000 a year a good amount?
NO
If you make 40000 a year how much is that biweekly?
$1,538.46- BEFORE taxes are withheld. There are 52 weeks in a year, 26 bi-weekly pay periods. So divide 40,000 by 26.
How much money per week if salary is 32000 a year?
If the annual salary is 32,000 then the weekly wage is 615.38
Does a pharmacy technician make a good living in Indiana?
They make a decent living. The average salary for a pharmacy technician in Indiana is about $32000 / year.
