What is the percentage breakdown that was taken out of this paycheck?

Answer 1

If this is a weekly check, it is easy enough to figure out. Just divide the tax/deduction by the gross amount of the paycheck. For instance, Social Security % would be $27.53/$444 = 0.062 or 6.2%

Regardless of your paycheck size, the current tax rates for Social Security and Medicare are 6.2% and 1.45% respectively. Employers are taxed the same amount, so that SS will get 12.4% and Medicare will get 2.9%. These percentages can change.

Your IRA is not a tax. It is your retirement contribution and looks like you have chosen to set aside 25% of your income - which is pretty good if you keep that up. Realize that it is a pre-tax deduction so your Federal and State income taxes are reduced because of that. If you weren't taking out that IRA deduction, you'd be paying more like $40 to Federal and $12 to State.

Your State Tax is on a sliding scale: 2.7% on the first $15,000. 4.6% on everything over $15,001. The amount of deducted State Tax is determined by your annual salary based on this pay check. This can change.

Federal Tax is also a sliding scale. There are currently 7 tax brackets and what you pay depends upon which bracket you land in and how many deductions you take. The amount of deducted Federal Tax is determined by your annual salary based on this pay check. This can change, too.

Background information provided by asker:

I received a check for $444.00, $64.14 and $111 was taken out through employee taxes.

My question is how much tax was taken out of my paycheck? I would like to know this so I can plan ahead for future checks.

Earnings:
Total: $444.00

Employee Taxes
- Federal Income Tax: $23.72
- Social Security: $27.53
- Medicare: $6.44
- Kansas State Tax: $6.45
Total: $64.14

Simple IRA Deduction:
Total: $111.00