Saturday, April 11, 2009

How much will the government deduct from my part-time job paycheck?

I work full-time, 40hours per week @ $9.50/hour. I will have a 16hour/biweekly part-time job @ $12.00/hour. What percentage of my part-time job paycheck will be paid to the federal government and the state of New Jersey? Will social security or medicare be deducted from my part-time job paycheck?


Nothing. Your employer will deduct taxes, including Social Security and Medicare from your paycheck.

Yes, ss and medicare, totalling 7.65%, will be taken out of your part time job's paycheck. What is deducted for income tax will depend on how you fill out your W-4, but the federal income tax will be around 15% if you are single - if not enough is deducted, you'll owe the rest when you file your tax return. New Jersey tax will be in addition to federal.

www.paycheckcity.com helps you estimate. The "government" doesn't deduct; the employer does. Social Security/Medicare are set percentages. You determine the income tax withholding based on your W-4.

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