If you gross $1000 how much are you really making?
Discussion in 'Questions From New Drivers' started by zoekatya, Jul 18, 2015.
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You really can't get an answer on that. Depends how much your state tax is if any. How many in your family and how much you claim. Your FICA. Once you hit the limit in one year it stops especially if you have a part time job also. On top of that all your other deductions. Everyone will be different.
Big Don Thanks this. -
Do a Google search
Suburban payroll deduction
Enter state,dependents will do everything except insurance -
As was mentioned above, make them 1099 employes. Hell, you can probably even deduct the cure from what you get, as a medical expense.
HorseShoe Thanks this. -
The more you make the more they take. 3k/wk=2.2k/wk
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Are you asking what goes to the company? or to you personally, as they are two different things.
You forgot to deduct for maintenance, depreciation, replacement, Vacation, disability,
Are you paying yourself a wage, or just taking what is left over? -
I live on ny. I make 1000 a week give or take 25 bucks. My net check is usually around 750 so 30% is pretty close
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I can only "surmise" the federal taxes are the same in all states, but not sure.
It is the state taxes that ARE different most times.
but here, it is roughly as I said, 30% total, NOT including medical benefits, etc,etc.BostonTanker Thanks this. -
Gross 1200 net 900
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Some people have too much taken out each week so they get a big refund check the next year. Some people play it close and don't take out but what they may actually end up owing state/fed taxes.
Some have child support, some have big costly insurance plans, some don't. There is no way you can get a valid answer other then to figure the normal way of 25% to cover income and FICA/SECA taxes as a typical single, no family driver, this get's close without playing it too close. The rest is all dependent on the person't situation.
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