1. What is Weekly Wage Tax?

Weekly wage tax consists of income tax withholding and FICA (Federal Insurance Contributions Act) taxes. This calculator helps estimate the total tax deduction from a weekly paycheck in the US.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( Weekly\ Wage \) — Gross earnings before taxes (in dollars)
• \( Tax\ Rate \) — Income tax withholding rate (percentage)
• \( FICA \) — Social Security and Medicare taxes (in dollars)

Explanation: The calculator first calculates income tax by applying the tax rate to the weekly wage, then adds the flat FICA amount.

3. Importance of Tax Calculation

Details: Accurate tax calculation helps employees understand their take-home pay and employers ensure proper withholding. FICA consists of Social Security (6.2%) and Medicare (1.45%) taxes.

4. Using the Calculator

Tips: Enter weekly wage in dollars, tax rate as a percentage (e.g., 22 for 22%), and FICA amount in dollars. All values must be non-negative.

5. Frequently Asked Questions (FAQ)

Q1: How is the tax rate determined?
A: The tax rate depends on the employee's W-4 form, pay frequency, and IRS withholding tables.

Q2: Is FICA always the same amount?
A: No, FICA is typically 7.65% of wages (6.2% for Social Security up to wage base limit, 1.45% for Medicare).

Q3: What about state taxes?
A: This calculator computes federal taxes only. State taxes would require additional calculations.

Q4: Are there deductions not accounted for here?
A: Yes, this is a simplified calculation. Actual paychecks may include other deductions like health insurance or 401(k) contributions.

Q5: How accurate is this calculator?
A: It provides a basic estimate. For precise calculations, consult IRS publications or payroll software.