Your Income Taxes:
| Federal withholding | 15% and up |
| State withholding | 5% and up |
| Social Security | 6.2% + 1.45 employer |
| Medicare | 1.45% |
| Workers Comp | 3.92% -employer paid only |
| Federal Unemployment | 0.8% of the first $7,000 -employer paid only |
| State Unemployment | 3.22% -employer paid only |
- 27.65% is the MINIMUM of your paycheck that goes to taxes. If you have less than 10 dependents, your taxes are MORE!
- Your employee must pay 9.39% of your income in taxes!
- 37.04%+ of your goes to the Government!
- If you make $40,000 per year you are paying $14,816 in total taxes.
- Your employee is paying $3,756 of the total
What are you getting in return?
Have you had enough of high taxes?