The Small Business Tax Help Blog

Posts Tagged ‘federal tax withholding allowances calculator’

Question: How much should this person get taken out for federal withholding tax weekly?

Single person, with 8 allowances. Earns $1600 weekly. We had a secretary doing mess ups with the company, and when I try to calculate this persons federal taxes for payroll, I am confused due to the high earning and the percent crap you have to do. Does anyone know how I calculate this for federal withholding taxes, or where online can I get a calculator to help me?? Anything would be helpful…thanks.

Answer: That’s $83,200 a year. So that would put them in the 25% federal income tax bracket, plus a 7.65% payroll tax.

That’s $27,164.80 in total taxes, so that’s $522.40 total withholding every week. I hope this helps.

Six tips for students with a summer job

Schoolâs out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job.