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March 27, 2017

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how do i calulate my ss witholdings from my paycheck? i know its 6.2% of my earnings. So if i made 551.65 for the year i would take 551.65*6.2% and subtract that answer from the 551.65?

  • accounting - ,

    The withholdings amount is the 6.2% of earnings.
    You don't subtract it from the earnings to get the amount withheld. That is the amount left over, but your employer may be withholding other things too.

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