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What can I expect taxes witheld on a $80,000.00 and ...

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What can I expect taxes...
What can I expect taxes witheld on a $80,000.00 and $85,000.00 a year salary? Please provide details and breakdown.Fed income tax withheld,Social Security wages, SS tax witheld, Medicare wages and tips,Medicare tax witheld, NY state income tax
Submitted: 10 years ago.Category: Tax
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Answered in 2 minutes by:
10/27/2007
Tax Professional: Matt Kesler, Accountant replied 10 years ago
Matt Kesler
Matt Kesler, Accountant
Category: Tax
Satisfied Customers: 2,734
Experience: BS in Accounting and BS in Finance
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I just have two quick questions to provide an accurate calculation.

First, do you know how many allowances you plan to claim for withholding?

If you aren't sure please let me know how many children, if any, you carry as dependents for tax purposes.
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Customer reply replied 10 years ago
Reply to Matt Kesler's Post: Yes, I claim 5 dependents.
Tax Professional: Matt Kesler, Accountant replied 10 years ago
OK. Here are the two calculations on a total for the year basis. I can also break these down by pay period if you'd like. Just let me know how often you'd be paid.

Annual Gross Pay - $80,000.00

Federal Withholding - $11,627.00
Social Security     - $4,960.00
Medicare - $1,160.00
New York - $4,262.71
NY SDI - $31.20

Net Pay - $57,959.09


Annual Gross Pay - $85,000.00

Federal Withholding - $12,877.00
Social Security - $5,270.00
Medicare - $1,232.50
New York - $4,605.21
NY SDI - $31.20

Net Pay - $60,984.09
Matt Kesler
Matt Kesler, Accountant
Category: Tax
Satisfied Customers: 2,734
Experience: BS in Accounting and BS in Finance
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Customer reply replied 10 years ago
Reply to Matt Kesler's Post: I get paid on a monthly basis. This information is very helpful. Thank you for your promt reply
Tax Professional: Matt Kesler, Accountant replied 10 years ago
You are very welcome. Here would be your estimated data based on a $80,000 annual salary for each monthly paycheck.

$80,000 a year
Monthly Gross Pay - $6,666.67

Federal Withholding - $968.92
Social Security - $413.33
Medicare - $96.67
New York - $355.23
NY SDI - $2.60

Net Pay - $4,829.92


$85,000 a year
Monthly Gross Pay - $7,083.33

Federal Withholding - $1,073.08
Social Security - $439.17
Medicare - $102.71
New York - $383.77
NY SDI - $2.60

Net Pay - $5,082.00


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Customer reply replied 10 years ago
Thank you for the details.

Can you provide the same information for $65,000.00 with same breakdown?
Tax Professional: Matt Kesler, Accountant replied 10 years ago
Yes, here it is.

Monthly
Monthly Gross Pay - $5,416.67

Federal Withholding - $656.42
Social Security - $335.83
Medicare - $78.54
New York - $269.60
NY SDI - $2.60

Net Pay - $4,073.68


Annually
Annual Gross Pay - $65,000.00

Federal Withholding - $7,877.00
Social Security - $4,030.00
Medicare - $942.50
New York - $3,235.21
NY SDI - $31.20

Net Pay - $48,884.09
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Customer reply replied 10 years ago
Thank you again for all your help
Tax Professional: Matt Kesler, Accountant replied 10 years ago
You are very welcome. If you ever need anything feel free to drop back by. We have experts for car repair, legal issues, taxes, medical problems, pet care, and even relationship issues and we'd all be glad to help!
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Matt Kesler
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