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What percentage is taken out of my paycheck for taxes?
I'll be working part time in Tennessee for 20-25 hours a week. I'm a dependent so I don't have any big cuts to worry about.3 years ago - 3 answers
For 2011 your social security and medicare taxes are 5.65% not 7.65%. Your federal income tax is determined by amount of income, filing status and exemptions on your W4 as you filled it out, but in your case estimate a max of 10%. Do not be surprised if it's almost zero though (depending on how many hours you actually end up working your income may never get high enough to prompt the withholding for federal). There is no state income tax in TN so zero for that.3 years ago
Look at the statement that comes with your pay check. It will be right there.by mercedes - 3 years ago
Employers do not withhold taxes based on a percentage. They use a table based on your filing status and their pay schedule (weekly, biweekly, monthly, etc). As the amount of your wages gets higher, the withholding is higher. They do withhold medicare and social security based on a percentage which combined is 7.65%.by jen777hen - 3 years ago