What taxes are taken out of my paycheck?

Answer by  Chaneygirl (1755)

Social Security 6. 2%, Medicare 1. 45%, federal and state taxes based on how you filled out your W4 form. There could be local taxes as well.

Answer by  tamarawilhite (17883)

Social security and Medicare taxes are taken out at 7. 65% combined. Unemployment taxes are another 7. 65%. Most people also pay federal income tax from 10% to up to 40% of their income.

Answer by  joantheresa (1421)

The usual taxes are federal withholding, state withholding (if your state has state income tax), social security, medicare, and railroad withholding if you work for the government.

Answer by  TheAnswerFairy (2345)

Each one of your paycheck stubs should have a listing of exactly what taxes were taken out and in what amounts. The normal taxes are: Social Security, to provide for your needs during retirement, Medicare/Medicaid to provide for medical expenses, and state income tax and federal income tax, which are used to fund all the various workings of government.