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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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If I make 65,000 a year how much federal tax is held

Customer Question

If I make 65,000 a year how much federal tax is held?
Submitted: 8 years ago.
Category: Tax
Expert:  Ed Johnson replied 8 years ago.

DearCustomer

 

I understand how you may be upset with 25 question. But we pride ourselves in being able to provide an accurate answer.

 

let me explain. there are more than 30 combinations of which you can complete a W-4 form to indicate how you want your money withheld by an employer.

 

i.e.

 

married, zero, married, 1, etc

single , zero, single 2, etc

Head of household, etc, etc.

 

also the amount that is withheld over the course of a year depends on the frequency.

 

 

So based on the following assumptions and without asking 25 questions,

 

Total pay check of 65,000 for an entire year, singel and zero dependents.

 

Your take home pay for the year would be:

 

<table border="0" cellspacing="0" cellpadding="1">

Annual Gross Pay

$65,000.00

Federal Withholding

$11,925.00

Social Security

$4,030.00

Medicare

$942.50

Florida

$0.00

Net Pay

$48,102.50

 

Your bi-weekly would be:

 

Bi-weekly Gross Pay

$2,500.00

Federal Withholding

$459.00

Social Security

$155.00

Medicare

$36.25

Florida

$0.00

Net Pay

$1,849.75

 

 

Note that this is based on the worst case or highest withholding rate of single and zero dependents.