How do you calculate how much tax will be taken from your paycheck?

Answer by  headley77 (97)

Employees are subject to Social Security, Medicare, federal, and state withholdings. Social Security is calculated at 6.2 percent of your gross earnings up to $106,800. Medicare is 1.45 percent of gross income. Federal tax withholdings vary on how you complete your W4 form while local taxes will vary based on what state you live in.

Answer by  Taxmatters (169)

Your tax is computed based on your gross earnings,which may not be exactly the same each pay period. The withholding tables are provided by the federal and state governments and should be applied base on your marital status and number of dependents.

Answer by  Kurt (4579)

Your tax deduction should not change every week unless your gross salary is changing every week. I suspect you are an hourly employee with different hours worked every time.