federal withholding tax

I been trying for several days now to figure the amount of federal tax
that is whthheld from my paycheck. I been to so many web sites and now
seems to help me.
Doe anyone has a spreadsheet that will calculate this, of a site that
will do it or show me how?
I do have a sheet but never comes out right.

Thanks Much
Bobby

Try this website:

http://www.bussvc.wisc.edu/ecbs/uw11...ercentage.html

Does that help?

Regards,
Ron

Also these (from the IRS):

Weekly:
http://www.irs.gov/publications/p15a/21453t29.html

Bi-weekly:
http://www.irs.gov/publications/p15a/21453t30.html

Semi-monthly:
http://www.irs.gov/publications/p15a/21453t31.html

Monthly:
http://www.irs.gov/publications/p15a/21453t32.html

Ron

1st Thanks Ron, but I did this before and can't come out right, could
you lead me right?

I used the Table 2 Biweekly married.
my wages to take taxes out on is $2273.31 ( after deuctions)
I used the 15% bracket and -$869 $2273.31 wihch is $1404.31 then 15%
of $1404.31 which is $210.64 then added $56.10 which is $266.74 to be
withheld, but on my check they took out $468.14. The calcuation is
pretty simple, but I'm screwing it up somewhere.

Where am I going wrong? As soon as I see what I'm doing wrong I'll get
it right away.

Thanks again Ron

Bobby


from On Sat, 2 Jul 2005 13:39:50 -0400, "Ron Coderre"
<roncoderre@bigfoot.com> wrote:

>Try this website:
>
>http://www.bussvc.wisc.edu/ecbs/uw11...ercentage.html
>
>Does that help?
>
>Regards,
>Ron
>

Bobby:

First...If you don't mind, please respond to my email, OK?....The accountant
in me causes me to be uncomfortable discussing earnings in a public forum.

Second:
Are you sure you're only looking at the Federal deduction, and not the sum
of all deductions?
OR
If you received any kind of non-standard, lump-sum payment (like a bonus or
profit sharing), I believe your company is compelled to deduct a flat rate
of 20%.

Does that help?

Regards,
Ron
(my email is in my profile)

Income tax withholding is based on gross wages, not wages after
deductions. Why are you subtreacting $869 (the table says $495) and then
adding $56.10 after the calculation? The instructions don't say anything
about additional amounts.


Bobby <camaro46368@yahoo.com> wrote:
> I used the Table 2 Biweekly married.
> my wages to take taxes out on is $2273.31 ( after deuctions)
> I used the 15% bracket and -$869 $2273.31 wihch is $1404.31 then 15%
> of $1404.31 which is $210.64 then added $56.10 which is $266.74 to be
> withheld, but on my check they took out $468.14. The calcuation is
> pretty simple, but I'm screwing it up somewhere.

> Where am I going wrong? As soon as I see what I'm doing wrong I'll get
> it right away.

> Thanks again Ron

> Bobby


> from On Sat, 2 Jul 2005 13:39:50 -0400, "Ron Coderre"
> <roncoderre@bigfoot.com> wrote:

>>Try this website:
>>
>>http://www.bussvc.wisc.edu/ecbs/uw11...ercentage.html
>>
>>Does that help?
>>
>>Regards,
>>Ron
>>


--
Gary L. Smith gls432@yahoo.com
Columbus, Ohio

Actually, the 2 websites that are pertinent here approach the same tax
amount from different directions:

Site 1 (http://www.bussvc.wisc.edu/ecbs/uw11...ercentage.html):
Taxable: 2,273.31
Less: 869.00
=Basis: 1,404.31
x 15%=: 210.65
+ base: 56.10
Tax: 266.75



Site 2 (http://www.irs.gov/publications/p15a/21453t30.html):
Taxable: 2,273.31
Less: 495.00
=Basis: 1,778.31
x 15%=: 266.75


Regards,
Ron

$266.75 is the same answer I'm getting, but taken out of m check was
lot more. Guess my problem is why more is being taken out.
If I find out after vacation I'll post the answer.
Thanks for the help.
Bobby

On Sat, 2 Jul 2005 18:01:10 -0400, "Ron Coderre"
<roncoderre@bigfoot.com> wrote:

>Actually, the 2 websites that are pertinent here approach the same tax
>amount from different directions:
>
>Site 1 (http://www.bussvc.wisc.edu/ecbs/uw11...ercentage.html):
>Taxable: 2,273.31
>Less: 869.00
>=Basis: 1,404.31
>x 15%=: 210.65
>+ base: 56.10
>Tax: 266.75
>
>
>
>Site 2 (http://www.irs.gov/publications/p15a/21453t30.html):
>Taxable: 2,273.31
>Less: 495.00
>=Basis: 1,778.31
>x 15%=: 266.75
>
>
>Regards,
>Ron
>

On Sat, 02 Jul 2005 13:38:42 -0500, Bobby <camaro46368@yahoo.com> wrote:

>1st Thanks Ron, but I did this before and can't come out right, could
>you lead me right?
>
> I used the Table 2 Biweekly married.
>my wages to take taxes out on is $2273.31 ( after deuctions)
>I used the 15% bracket and -$869 $2273.31 wihch is $1404.31 then 15%
>of $1404.31 which is $210.64 then added $56.10 which is $266.74 to be
>withheld, but on my check they took out $468.14. The calcuation is
>pretty simple, but I'm screwing it up somewhere.
>
>Where am I going wrong? As soon as I see what I'm doing wrong I'll get
>it right away.

Perhaps you are not including the moneys withheld for Social Security and
Medicare?

That would make their withholding pretty close to what you are calculating.


--ron

Your paycheck receipt should break down various amounts withheld.

Simple-minded approach:
Put gross pay in A1
Put tax withheld in A2
Put formula "=A2/A1" in cell A3 and format as percentage.

For more details, ask your company how they calculate this amount.

Bill

"Bobby" <camaro46368@yahoo.com> wrote in message
news:41jdc152odg4q0okb3ulo52f4ampnu577h@4ax.com...
I been trying for several days now to figure the amount of federal tax
that is whthheld from my paycheck. I been to so many web sites and now
seems to help me.
Doe anyone has a spreadsheet that will calculate this, of a site that
will do it or show me how?
I do have a sheet but never comes out right.

Thanks Much
Bobby

Bill,
I also did it this way on 3 checksand it comes out with a different
percent, all 3 checks were in the same tax bracket. I' going to have
to check with my payroll dept.
Thanks
Bobby


On Sat, 2 Jul 2005 10:54:50 -0700, "Bill Sharpe"
<bsharpe@nsadelphia.net> wrote:

>Your paycheck receipt should break down various amounts withheld.
>
>Simple-minded approach:
>Put gross pay in A1
>Put tax withheld in A2
>Put formula "=A2/A1" in cell A3 and format as percentage.
>
>For more details, ask your company how they calculate this amount.
>
>Bill
>
>"Bobby" <camaro46368@yahoo.com> wrote in message
>news:41jdc152odg4q0okb3ulo52f4ampnu577h@4ax.com...
>I been trying for several days now to figure the amount of federal tax
>that is whthheld from my paycheck. I been to so many web sites and now
>seems to help me.
> Doe anyone has a spreadsheet that will calculate this, of a site that
>will do it or show me how?
> I do have a sheet but never comes out right.
>
> Thanks Much
> Bobby
>

To all that helped with this, I finally got it figured out. The fed
withholding sheet was right, I was figuring it out wrong.
Thanks All
Bobby

Originally Posted by Bobby

To all that helped with this, I finally got it figured out. The fed
withholding sheet was right, I was figuring it out wrong.
Thanks All
Bobby

I use Excel to figure what my Net pay is. When I get my pay stub, it's about $3-$4 off from my actual pay. Here's how I do it -

I figure my gross pay, and deduct any non-taxable amounts to get my adjusted gross.

The formula I use to figure Fed taxes is: =SUM(P42-858)*15%+55
The formula I use to figure SSN is: =SUM(P42*6.2%)
The formula I use to figure MEDC is: =SUM(P42*1.45%)

I then deduct any remaining post-tax amounts to get my Net Pay.

If my adjusted gross is more than $2490, then I use this -
=SUM(J42-2490)*25%+299.8

These seem to estimate my Net pay pretty close, within 3-4 $$$.

For 2006, a good fiormula is:

=max(0, 10%*(A1 - B1*63.46 - 51), 15%*(A1 - B1*63.46 - 98), 25%*(A1 -B1*63.46 - 306.80), 28%*(A1 - B1*63.46 - 424.89), 33%*(A1 - B1*63.46 -817.03), 35%*(A1 - B1*63.46 - 1142.23))

if you are single and A1 is your gross, and B1 is your allowances.

Alden wrote:
> For 2006, a good fiormula is:
> =max(0, 10%*(A1 - B1*63.46 - 51), 15%*(A1 - B1*63.46 - 98), 25%*(A1
> -B1*63.46 - 306.80), 28%*(A1 - B1*63.46 - 424.89), 33%*(A1 - B1*63.46
> -817.03), 35%*(A1 - B1*63.46 - 1142.23))
> if you are single and A1 is your gross, and B1 is your allowances.

Not sure why you are responding to a thread that is one year old. But
the formula above is for Weekly Single. The OP wrote: "I used the
Table 2 Biweekly married".