$500 net pay how much will I get after tax?

Question

I live in NY State, file 0 on my w4. Just got a new job net pay is $500, how much will I get after tax?

Answer 1

Here is the deal with exemptions on the w-4. The less you have the more money you get back come tax time. But that money sits with the government not making you any money.

Best to change that to a "1" on the form. The extra money can be packed away in an account. A little bit of cash backup and it will earn some interest. And with a 1 you will still get some money back come tax time. Claiming 0 will take a huge bite out of your check.  

Answer 2

You mean your gross pay (before taxes) is $500.  Your net pay is what you take home.  Figure 75% of your gross pay so approximately $375.00 will be taken home.

Answer 3

I also file 0 on my w4 I worked 29 hours and grossed $470.00 and took home $362.00. TAXES SUCK!!!

Answer 4

If you can be claimed as a dependent, stick with 0 to avoid any chance of a tax bill next year.  If you cannot be claimed as a dependent, you can safely claim 1.  If you claim 2 you'll get the most in your paycheck but MIGHT have a small tax bill to pay next year when you file.  It will almost certainly be less than $100 and probably less than $50.

Go here for some handy pay and tax planning tools:  http://www.paycheckcity.com

Edit:  Since you are married, you are not a dependent.  How you file your W-4 and have taxes withheld will depend upon how much your total income is including your husband's assuming that you're filing a joint return.  The calculators at the site I linked include a W-4 calculator that you can both use to figure that out.  Then use the results to figure your net pay after taxes and other deductions.

When a husband and wife both work it's entirely possible to both claim 0 allowances AND not have enough tax withheld.  If this is what's happening to you, you'll need to either have extra tax withheld each payday or choose the "Married but withhold at the higher Single rate" option on one or both of your W-4s at your jobs.

Answer 5

Without knowing how often you get that $500 there's no way to answer that.  You can go to paycheckcity.com and enter your info, and it will tell what your deductions will be.

Answer 6

if $500 is your net pay then you get $500.  I am guessing you mean $500 gross pay(before taxes)??