I am only looking for federal tax witholding information. Is there a tax table that shows the percentage witheld for biweekly income? I'm married, and I only claim 2... but I would like to have a variety of claims to compare what is witheld.
Social Security Tax % witheld based on income?
Medicare Tax % witheld based on income?
Federal Tax % witheld based on income?
I want to be able to look at the chart, and figure out how much will be taken, exactly, every paycheck that I receive.
Thanks.Is there a table to figure out payroll tax withholding percentages?
For federal tax withholding, use Publication 15: http://www.irs.gov/pub/irs-pdf/p15.pdf
If you read pages 36 - 39, you'll be able to calculate your federal tax withholding exactly.
Social security tax is 6.2% of gross compensation up to a limit of $102,000 of compensation
Medicare tax is is 1.45% of wages with no limit.
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I've got an Excel spreadsheet set up to do the same thing. I can enter each gross paycheck amount, the spreadsheet does the calculation, and I can forcast what my various withholdings are. That way, I can be sure whether my taxes paid for the year will cover my taxes due when I file.Is there a table to figure out payroll tax withholding percentages?
Publication 15, circular E - download at irs.gov
It might be easier to just enter the info at paycheckcity.com for your various options
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