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Wayne Brasch
Wayne Brasch, Accountant and Business Consultant
Category: Finance
Satisfied Customers: 1298
Experience:  Master of Science in Taxation. Tax experience since 1963.
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how much in taxes will i have to pay from earnings of 1000.00 a week.

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Submitted: 9 years ago.
Category: Finance
Expert:  Wayne Brasch replied 9 years ago.
If you are single and claiming yourself the taxes would be ignoring any state income tax since you didn't tell us what your resident State is would be as follows:

Gross- $1,000.00
Social Security- $62.00
Medicare- $14.50
Federal income tax- $154.00

Net pay- $769.50
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Customer: replied 9 years ago.
i live in california, i pay into a 401k plan which is only 4% of my income, i pay$21.00 towards medical insurance, and i am paying back a loan on my 401k plan. what am i going to get as my paycheck?
Expert:  Wayne Brasch replied 9 years ago.
Now that we have this other information, here is the breakdown of your paycheck as I see it:

Gross- $1,000
401(K)-     $40
Social Security- $62.00
Medicare- $14.50
Federal income tax- $144.00
CA income tax- $44.22
CA SDI- $6.00
Medical Insurance- $21.00

Net pay check- $668.28

You didn't say how much you are paying back on the 401(K) loan, but just subtract that amount from the Net pay check I have listed above and that'll give you what you should take home each week.