Tax percentage question

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Duratec
Posts: 12
Joined: Sat Mar 18, 2006 7:15 pm

Tax percentage question

Post by Duratec »

If I am making $30,000 USD salary in Florida, what kind of percentage of taxes will be taken off approximately? I have no dependents. Thanks in advance.
Duratec
Posts: 12
Joined: Sat Mar 18, 2006 7:15 pm

Post by Duratec »

Anyone? :wink:
Carson
Posts: 182
Joined: Wed Oct 27, 2004 1:00 pm
Location: Toronto

Post by Carson »

No FL tax, but there will be Federal withholding, FICA (Medicare and Scoial Security). The 2005 tax tables say about $4,200 ultimate tax for a single 1040 filer, not including FICA.

I suggest you check the IRS website. It's all there. http://www.irs.ustreas.gov/
Duratec
Posts: 12
Joined: Sat Mar 18, 2006 7:15 pm

Post by Duratec »

I am new to this US tax thing, so basically my net salary will be $25,800 USD, right? That being said, it's 14% in taxes deducted. So if I'm making $100/day gross, I'm taking home $86.00/day net, correct? Thanks in advance. 8)
Duratec
Posts: 12
Joined: Sat Mar 18, 2006 7:15 pm

Post by Duratec »

Seems like Canadian income tax deducts more off your paycheck than say the US income tax?? dunno...
Duratec
Posts: 12
Joined: Sat Mar 18, 2006 7:15 pm

Post by Duratec »

Carson wrote: The 2005 tax tables say about $4,200 ultimate tax for a single 1040 filer, not including FICA.
How much $$ will the FICA taxes be? Also why would I pay for medicare taxes, does that mean I receive medicare?? I am using Blue Cross to cover me when I go there.
nelsona
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Post by nelsona »

Your FICA taxes will be about 7%. Yes you must pay these regardless of whether ort not you will eventually use medicrae or Social security.

Your salary seems awfully low.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
Duratec
Posts: 12
Joined: Sat Mar 18, 2006 7:15 pm

Post by Duratec »

nelsona wrote:Your FICA taxes will be about 7%. Yes you must pay these regardless of whether ort not you will eventually use medicrae or Social security.

Your salary seems awfully low.
Ok so in total I would be looking at 21% in total tax deduction for $30,000? Sorry for all the questions, I'd just rather be safe than sorry. :)
nelsona
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Post by nelsona »

What kind of cardbaord box will you be living in? :wink:
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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