federal income tax deduction
federal income tax deduction

How much is my federal income tax 38,000 a year do?

I looked at a tax table that the tax is 25% by 2009. Is this right? So if I gross $ 1462.00 bi-weekly. So if I am writing this would be more than $ 365 each paycheck for federal income tax. Am I correct or I can miscalculate. I do not want to spend no more than $ 250 for the deduction of the total.

You did wrong. Even if you are single nevertheless fall slightly shy 25% of support at that salary level. The tax rate tables are for your taxable income, not income. First, deduct the adjustments, exemptions and deductions before to reach its tax base. For 2008, the first $ 8,950 is not subject to tax. The next round of $ 8,000 taxed at 10%. The next about $ 30 000 is taxed at 15%. Click here for some handy paycheck calculator: http://www.paycheckcity.com

 
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