I am currently a college senior about to graduate. Recently I just picked up an internship for the city of la and I have received about 3 paychecks so far. I am work 20 hours and week and i am payed bi-weekly. This pay period I was paid $467.37. ($540 Before Taxes)On the taxes being taken out I see FICA-SS ($22.68), FICA-MED ($7.83), FIT ($31.12), California SIT (5.60), and California SDI (5.40).It this normal?”---->Your FICA-SS is correct;4.2%*$540=$22.68; FICA-MED is ALSO correct; 1.45%*$540=$7.83 ; FIT is based on either wage bracket method or percentage method adopted by your ER(You need to check it with your ER).CA SIT goes to the state's general fund, then to whatever the state legislature decides. SDI is also correct;$540*1%=$5.40
“ what do these mean?”----> FICA = Social Security Tax;Medicare = Medicare Tax;SDI = State Disability Insurance;FIT = Federal Income Tax, SIT = State Income Tax
“ and is there anyway I could reduce the amount of taxes being taken out?”---->No FICA-SS, FICA –MED, SDI ;however, you can reduce the amount of FIT/SIT taxes by adjusting W4/CA Employee's Withholding Allowance Certificate with your ER. |