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Tax Question
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onel0wcubn's Avatar
 
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Tax Question - December 7, 2009, 06:47 PM

Is there a set % that is taken out of your paycheck for VA taxes?

Same for Federal Withholding.

Both claim 1, no extra withholding.

I'm a retARD when it comes to this stuff.


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December 7, 2009, 06:51 PM

Quote:
Originally Posted by onel0wcubn View Post
Is there a set % that is taken out of your paycheck for VA taxes?

Same for Federal Withholding.

Both claim 1, no extra withholding.

I'm a retARD when it comes to this stuff.
Depends on your income level.

If its 3000$ or less, 2% of your income.
3000-5000$ is 60$ plus 3% of income over 3000$
5000-17,000$ is 120$ + 5% of income over 5000$
17,000$+ is 720$ + 5.75% of income over 17,000$


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December 7, 2009, 06:56 PM

k.. so it's that amount per paycheck?

for instance:

2500 X %2 = $50???

am I reading this right?


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December 7, 2009, 07:43 PM

No, the amounts are for your annual income.

If you end up overpaying during the year, you get a 'refund' when you file taxes.

If you under pay during the year, you get to write a check to IRS/VA along with your tax return.
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December 7, 2009, 07:58 PM

ur jus like the rest of us...gettin raped.

ur at about 60k a year. 60-17 = 43. So you pay $720 + 5.75% on that $43000. What rob gave u was annualized.

now look at ur paycheck and do the math to find what % of ur paycheck is withholding based on ur bi-weekly gross.

http://www.tax.virginia.gov/site.cfm?alias=WHCalculator

the goal is to break even with uncle sam, not be all hyped up between Jan and Apr waiting on ur own money to be given back to u interest free cuz u loaned it out over the year....only to be taxed on it again the following year..DUH. i missed it by $150 last year i'ma get it this year <---too uncle sam

u actually think uncle sam is gonna let you walk with $50 on 2500? C'MON SON!!

Last edited by Oneway; December 7, 2009 at 08:07 PM..
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