How much will we pay in federal tax and Social Security and Medicare?

Question

My wife and I are going to be filing jointly. We are considering moving out of state and are running the numbers to see if it would work. In order to survive with our current level of debt, we would need to earn $50k per year. Including Social security and medicare around how much in taxes would we pay per year out of that?

Answer 1

www.paycheckcity.com

Answer 2

Social Security = 6.2%

Medicare = 1.45%

Federal Taxes are determined by what you claim on your W-4.

Try this onlince calculator: http://finance.yahoo.com/calculator/care...