How do I calculate the Federal Tax Withholding???

Question

this is so frustrating...i just can't get the hang of it! is there a simple way of calculating the taxes that need to be withheld from my paychecks? i live in texas. i get paid the 1st of every month (or the first "business day" after the 1st) and every 15th of each month (or the first "business day" after the 15th). single and no depedants. please all i need is simple math that i can do on my own to double check my paychecks cuz i dont' trust that my boss is doing them correctly! thanx to anyone that can help! : )

Answer 1

There is no simple math. But there IS an easy way. Go here:  http://www.paycheckcity.com

Answer 2

You can also go to the IRS website and look for Publication 15 Circular E.  This provides the calculations that employers are supposed to use to calculate the federal withholding.  You will need to know how many exemptions you are claiming on your W-4.  You take your gross pay for the half month and find the tables that relate to semi-monthly pay.  Deduct the amount for the number of exemptions you have and then find the tax based on that amount.

Social security is gross pay times .062

Medicare is gross pay times .0145

If i remember correctly, Texas does not have income tax, so there is no state withholding.