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POLL: What percentage of your pay gets deducted? (full-time workers)

kranky

kranky

Elite Member
I've seen a number of posts where people were quite shocked at how much of their pay goes to taxes. We're talking PERCENTAGES, not dollar amounts.

To keep everything equal, deductions should count Federal/State/Local income taxes, Social Security tax (FICA), Medicare Tax, Unemployment tax, and any medical insurance costs you have to contribute to. Don't count voluntary deductions like 401k, savings plans, etc.

Let's keep it to full-time employees only because part-timers often don't have federal taxes withheld and will distort the numbers.

So, what percentage of your pay gets deducted from your check before you get it?
 
I usually figured on my gross * 0.68 and it's been pretty close to my take home (including my portion of insurance premiums).

Which means, oops, I clicked the wrong poll option!

DOH!
 
38% on normal checks.

43% on my last year end bonus IIRC.

Actually if you really think about it its more because your employer pays as much of your FICA tax as you do. So if you make 75K "pre-tax", and 6K of the deductions are FICA, from the employers perspective it's as if they are paying you 81K. Then when you consider sales and other taxes, the gov't makes a lot more money off of your labor than you do.
 
Originally posted by: glugglug
38% on normal checks.

43% on my last year end bonus IIRC.

Actually if you really think about it its more because your employer pays as much of your FICA tax as you do. So if you make 75K "pre-tax", and 6K of the deductions are FICA, from the employers perspective it's as if they are paying you 81K. Then when you consider sales and other taxes, the gov't makes a lot more money off of your labor than you do.
Click to expand...

Exactly, we all pay too damn much.
 
~25%. Not too bad really in comparison to some of the others around here. Low state taxes help and the fact that I try to balance my withholding so I come out about even in April whereas a lot around here seem to like getting a big refund. Which reminds me that I need to change my withholding since I'll have a decent amount of supplemental income this year. Thanks for the thread reminder.
 
i'm sitll considered a full time student, even though I am worknig 60 hours per week over the summer over two jobs. They are taking 20%, but should be only taking 15% because of my student status. Refund check next year is gonna be phat! 😀
 
I'm too dumb to figure out how to deduct my 401k loan payments and health benefits to get a %

So I'm guessing 28% gets deducted.
 
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