Submitted by AltReality t3_z8aorz in personalfinance
rnelsonee t1_iyaqg2e wrote
Reply to comment by AltReality in Federal taxes are not being taken out of my paycheck... by AltReality
Yeah, so with medical, it's going to go to $0.
The math if you had no pretax deductions:
You make $63,060. Subtract $25,900 for the standard deduction and your taxable income is $37,160. You pay 10% on the first $20,550 ($2,055), 12% on the rest, $16,610 ($1,993) for a total of $4,048. Subtract $4,000 to Child Tax Credits. Divide $48 by 52 to get $0.92 withheld per paycheck.
Viewing a single comment thread. View all comments