How to work out income tax?
I will be starting a new job in April (just after the 2015/16 tax year begins). The salary is £20,000 per annum, but the job is a six-month fixed-term contract. First of all, does this mean then that my salary will work out as £10,000? Secondly, how much income tax would I pay on this? Would I be correct in assuming I would pay none due to the personal allowance being £10,600, meaning that I pay no income tax (but still some National Insurance)? Many thanks!
Why is my federal income tax so high?
just receive my first paycheck i made $299.20 federal income tax 21.27 social security tax 18.55 medicare tax 4.34 CA SUI/SDI tax 3.00 with a $10 tips can someone tell me how to calculate it? i get paid twice a week.
Florida income tax?
I have two friends that work in Florida. One of them makes 70k and the other makes 100k. However, both of them only pay $380 per month as taxes. How is that, shouldn't the one that is earning 100k pay more as taxes? If it is only $380 per month on every salary, then I might consider moving to florida.
Should the high income tax rate in India be reduced?
Yes they should be but BJP never does it. In India it has been officially accepted by finance minister jaitley that mostly only salaried taxpayer pay taxes. Quoting jaitley “out of 76 lakhs Indians declaring income above 5 lacs, 56 lakhs are salaried”. For BJP this 56 lacs votes do not matter. Ok make it times 2 (2 votes per family) approx 1.12 crore votes. The remaining non salaried 20 lacs are underreporting income by huge margin.Above table shows both Vajpayee 1999 - 2004 and Modi 2014 - 2018 did not reduce tax slabs. Manmohan singh between 2005 - 2013 saved the taxpayers.Problem is that salaried taxpayer did not give credit or support to Manmohan Singh when he reduced tax slabs by huge margin. So bjp ignored salaried class.Bjp however gave big jumlas like salaried taxpayer are biggest desh bhakts - modi, income tax should be abolished - dr Swamy, minimum tax slab should be 5 lacs - jaitley all before election.Bjp however gave huge benifit to industrialist by reducing their top tax slab from 30 to 25% for 250 crore revenue. Saving them crores. They need their black money for big Modi election campaigns. Noone asked why a common man pays tax at 30% but industrialist 25%.
How high is your income if you pay $100,000 in federal taxes (U.S.)?
As a previous answer has pointed out, you can’t really know what the income was without knowing a whole lot of additional facts. But let’s just take a wild stab at it anyway.I would guess the income to be in the $ 500,000 range, +/- $ 100,000 or so.
High School Students and Federal Income Tax?
Okay, I'm 17, have been working at my job for almost 6 months now, have made about 1400 since i started working, and currently im in my last year of High School. When I got my w4 form or w2 I can't remember which but I at first claimed 1, like my boss told me. Later when I got my check I looked at the taxes and only Medicare and Social Security were taken out. Federal Income was not even listed. My mother being a banker freaked out about it and told me to talk to my boss. I told her and I changed my w2 or w4 to zero, which I'm assuming meant I am claiming for no one? So I thought that would fix things, I get my next check, and Medicare shows up, Social Security Shows up and Federal Income Shows up now too. Except Next to Federal it says this: 0.00. So my taxes taken out looks like this pretty much when listed on my paycheck stub: Social Security: 1.23 Medicare: 1.23 Federal Income: 0.00 Also, my name has been spelled wrong on my paycheck, When I changed to claiming no one, I asked her to change my name as well, so it'd be spelled correctly, She said she'll tell her accountant. When I get my next check, Name is still spelled wrong and no federal is taken. Pretty much I ask her a good 4 times to get with her accountant and get federal taken out for me. Cause I don't know any way else to do it? I've asked around in my stand(job) and everyone who gets paid normally has Medicare, Social Security, and Federal Income. A girl at my school said it was because Im a student so I don't have to pay. I don't know much about taxes, my mom keeps telling me to tell my boss to change it but, I've done it for times going back to her without further information to push her to change something ( if it needs to be changed ) is useless. heeeelppp! D:
How high is the income tax rate in Norway for a foreign student?
The fact that you are a foreign student is irrelevant. But as a student I assume it wouldn’t be much. Taxes are low if your income is low. Remember there are also loads of deductions.The most common tax table is 7100. You can test your monthly salary on it here:SkatteetatenIf you are really interested, you can calculate your tax here:Skatteetaten - Tax calculation