How are taxes calculated?

http://www.IRS.gov should have info on it

Withholding schedules are designed to withhold enough income every pay cycle such that you owe no obligation to IRS when taxes are filed the following year.

When you fill out a Federal W-4 you are listing your marital status or other filing status and listing your exemptions and you should end up with the proper amount of taxes being withheld, all other things being equal.

For example if you are single with just yourself you could claim single “1” and that is how you will be taxed on each pay date.

It never works out right to the penny but it should come out close.

Please note that in addition to income taxes your employer is withhodling Social Security tax at a rate of 6.20% and medicare tax at a rate of 1.45%.

SRM