<p>I just got a new job at Washington University, but I haven't gotten my first paycheck yet. Anyways, I was wondering what percentage of your income is usually taxed? A rough estimate is fine. Also, I live in Missouri.</p>
<p>depends on how many exemptions you claimed on your W-4 for federal withholding. Is this your first job this year? How much do you expect to make this year? If you are making like less than $5k this year and they are not overwithholding I am going to guess 7.65% for social security and medicare (that one I am sure of!) + 2% state (rapidly sliding scale up to 6%) and 10% fed, so...... around 15% minimum. Sux, doesn't it?</p>
<p>You may find this article interesting:</p>
<p>Regarding your school job, if it work-study related, there shouldn't be Social Security taxes. Keep an eye on the impact of any earnings on next year's FAFSA calculation. In the meantime, your employer should provide you with all the necessary information. Be especially careful with the school attempt to report income as self-employment and stick you with the full 15.3% Social Security (if not WS).</p>
<p>15% minimum???? what??? that's so ridiculous!!! xiggi, where'd you find that article from?</p>