You pay three kinds of taxes from your hard-earned paycheck- Federal, state, and FICA. Federal and state taxes can be used for multiple purposes but FICA taxes are spent on social security and Medicare only. The federal tax stays the same for every US citizen but the state tax varies.
Want to know how much taxes are deducted from a paycheck in Ga? The answer solely depends on how much money you earn and what information you have provided on your W-4 and G-4 forms.
Want to know exactly how much you pay from your income? Then stay till the end!
How Much FICA Tax Is Deducted In Ga?
From your paycheck, the total tax constituting FICA is 2.9% Medicare and 12.4% Social security of your wages.
If a resident of Georgia is earning more than 200,000$, then an additional tax is also applied on the paycheck called Medicare surtax. In this, 0.9% more tax is deducted for Medicare purposes.
How Much Federal Tax Is Deducted From The Paycheck In Ga?
Federal tax is withheld from your paycheck according to the information you put on the W-4 form.
The information you provided on the W-4 form keeps on updating. For example, if you become a parent or get a different job, then you fill out a new W-4 form.
Some other factors that change how much tax you have to pay are your pre-tax contributions, when you get married, or any other life-changing event.
Filers are also needed to provide other necessary information like income tax credits, non-wage income, taxable wages in a year, etc.
Federal Tax For Single Filers
| Taxable income | Tax rate |
|---|---|
| Less than 10,275$ | 10% of income |
| 10,276$-41,775$ | 1027.5$+ 12% of amount over 10,276$ |
| 41,776$-89,075$ | 4,807.5$+ 22% tax over 41,776$ earned |
| 89,076$- 170,050$ | 15,213$+ 24% of over 89,076$ money earned |
| 170,051$- 215,950$ | 34,647$$+ 32% of over 170,051$ earned |
| 215,951$- 539,900$ | 49,335$+ 35% of over 215,951$ earned |
| >539,901$ | 162,718$+ 37% of over 539,901$ earned |
Federal Tax When You Are Married And Filing Jointly
| Taxable Income | Tax rate |
|---|---|
| Less than 20,550$ | 10% of total income |
| 20,551$-83,550$ | 2,055$+ 12% of amount over 20,551$ |
| 83,551$-178,150$ | 9,615$+ 22% tax over 83,551$ money earned |
| 178,151$- 340,100$ | 30,427$+ 24% of over 178,151$ money earned |
| 340,101$- 431,900$ | 69,295$+ 32% of over 340,101$ earned |
| 431,901$- 647,850$ | 98,671$+ 35% of over 431,901$ earned |
| >647,851$ | 174,253$+37% of over 647,851$ earned |
Federal Tax When Married And Filing Separately
| Taxable income | Tax rate |
|---|---|
| Less than 10,275$ | 10% of total income |
| 10,276$-41,775$ | 1027.5$+ 12% of amount over 10,276$ |
| 41,776$-89,075$ | 4,807.5$+ 22% tax over 41,776$ earned |
| 89,076$- 170,050$ | 15,213$+ 24% of over 89,076$ money earned |
| 170,051$- 215,950$ | 34,647$$+ 32% of over 170,051$ earned |
| 215,951$- 323,925$ | 49,335$+ 35% of over 209,426$ earned |
| >323,925$ | 87,126$+37% of over 323,925$ earned |
Federal Tax For Head Of Household
| Taxable income | Tax rate |
|---|---|
| Less than 14,650$ | 10% |
| 14,651$-55,900$ | 1,465$+ 12% of amount over 14,651$ |
| 55,901$-89,055$ | 6,415$+ 22% tax over 55,901$ money earned |
| 89,056$- 170,050$ | 13,708$+ 24% of over 89,056$ money earned |
| 170,051$- 215,950$ | 33,148$+ 32% of over 170,051$ earned |
| 215,951$- 539,900$ | 47,836$+ 35% of over 215,951ned |
| >539,901$ | 161,218$+37% of over 539,901$ earned |
After FICA and federal tax, it is now time to know about Georgia tax.
Georgia State Tax
In the Georgia state tax form or G-4 form, you provide all the essential information the Tax department needs to know and to calculate how much tax you pay.
State Tax For Single Filer
| Taxable income | Tax rate |
|---|---|
| <750$ | 1% |
| 750$-2,250$ | 2% |
| 2,251$-3750$ | 3% |
| 3751$- 5,250$ | 4% |
| 5,251-7000$ | 5% |
| >7000$ | 5.75% |
State Tax For Married and Jointly Filed Couples And For Head Of Household
| Taxable amount | Tax rate |
|---|---|
| Up to 1000$ | 1% |
| 1000-3000$ | 2% |
| 3001$-5000$ | 3% |
| 5001$-7000$ | 4% |
| 7001$-1000$ | 5% |
| 1000$+ | 5.75% |
State Tax for Married And Separately Filed
| Taxable income | Tax rate |
|---|---|
| Up to 500$ | 1% |
| 501$ to 1500$ | 2% |
| 1501$-2500$ | 3% |
| 2501$-3500$ | 4% |
| 3501$-5000$ | 5% |
| 5000$+ | 5.75% |
Now, suppose a person has an annual salary of 55,000. He will pay 5,088$ in federal tax, 2,726$ in Georgia state tax, 3,410$ in social security tax, 798$ in Medicare.
After the tax cut, the income he will receive will be 42,980$.
How To Save Some Tax To Be Deducted?
If your employer offers a 401K plan, health savings plan, or flexible spending account, then you can save some of your money.
The contributions for these accounts are pre-tax. Therefore, put your money in these accounts to avoid tax on them.