Tax FAQ
 

Calculating Correct Withholding Tax?

Question by Susan S | Posted in United States

I fitting received my 07 Q4 bonus (paid in 08). The amount our accountants took out for federal withholding seems very much low (about 22%). How can I verify that they took out enough?

(Several of my co-workers had a similar issue last year where not enough was withheld from their extra checks and when they calculated their tax return, they owed a lot, so I am a tad concerned.)

Thanks in advance!

Answer: Go to www.irs.gov and search for Advertising 15. Publication 15 will give you instructions on how to calculate withholding. The charts are at the end of the publication.
 
 

How Is Calculated Federal Tax Withholding In The Paycheck? What Is The Formula?

Question by Simeon | Posted in United States


well, I have the amount, I am not interested in manipulative it, I want to know how is calculated. So, I don't need a calculator, I need the formula...

Answer: Get a carbon copy of IRS Pub 15, Circular E, Employer's Tax Guide, from the IRS website. It has the formulae and tables for withholding in it. It's far too complex to try to spawn it here.

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Louisana Withholding Tax?

Question by Chandler | Posted in United States

Does anyone identify anything about Louisana withholding taxes?

If so, can you answer these questions?

Does LA allow a standard aright to taxable gross pay prior to the calculations of the tax amount? AND If this adjustment is computed as a % of the taxable monstrous pay?

If they allow the adjustment, then what is the minimum and maximum annualized adjusted amount?


Also, what is the value of a free withholding exemption (annual)

Answer: here you go.

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How Do I Calculate The Federal Tax Withholding???

Question by ✮❤☠ δθƦƹѨ ☠❤✮ | Posted in United States

this is so frustrating...i by the skin of one's teeth can't get the hang of it! is there a simple way of calculating the taxes that need to be withheld from my paychecks? i conclude in texas. i get paid the 1st of every month (or the first "business day" after the 1st) and every 15th of each month (or the first "question day" after the 15th). single and no depedants. please all i need is simple math that i can do on my own to double stopping my paychecks cuz i dont' trust that

Answer: There is no plain math. But there IS an easy way. Go here: http://www.paycheckcity.com

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How Is The Federal Tax Withholding On My Pay Stub Calculated?

Question by 10FootLine | Posted in United States

Am I taxed a piece if I earn over a certain "limit"? If so, is the entire amount taxed or only the amount over the limit? And how is the tax cut calculated?

Answer: How much that is withheld is based on a share calculated by the IRS. They designate a percentage to be withheld based on your filing status, how many dependents you have, and how much you perceive b complete. The percentage is based on how much the IRS estimates that you will owe in taxes each year.

In some pay periods if you made a lot more than usual (worked overtime, got a perquisite, etc), you will see your percentage withheld increased because the IRS mandates that a larger

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