Asklemmy

44888 readers

1983 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
[email protected]: a community for finding communities

~Icon~ ~by~ ~@Double_[email protected]~

founded 5 years ago

MODERATORS

[email protected]

How do wages and tax work in the US? (lemmy.world)

submitted 2 days ago by [email protected] to c/[email protected]

18 comments fedilink hide all child comments

Sometimes I see on American TV that once a year (I think) they try to figure out how much tax they owe and send off a cheque. How does this really work?

Id struggle very much to calculate this. Do you keep receipts for everything?

Is there no system where taxes are automatically taken out of your monthly wages? Id be interested to hear some examples of what you pay, and how you calculate it all if possible.

In the UK pretty much every has monthly tax taken automatically, unless you are self employed.

The way it works for me for example last month I made:

£2282.58 and £435.92 was deducted. £247 in tax and 98.77 national insurance. £90.15 went to my pension.

So what would your payslip look like? No deductions? Or am I just getting the wrong idea from America TV shows?

Thanks

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 0 points 2 days ago

End of year is balance time to see f your addition income r extra credits mean you pay tax or receive withheld tax back. Like if you have a baby mid year, or your spouse goes on disability, those grant you tax credits.