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USA: New hourly job filling out a W-4, single person, no dependents, what's the lowest deduction we can choose? (lemmy.world)

submitted 8 months ago by LemmyKnowsBest@lemmy.world to c/personalfinance@lemmy.ml

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Goal: the least amount of withholdings possible

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[–] tburkhol@lemmy.world 2 points 8 months ago

If it makes you feel any better, I've always expected around 1/3 of income to taxes. 7.65% OASDI, 5-10% state, 15-20% fed... Maybe even more if you have a municipal income tax. Tack on some pre-tax 'benefits,' like healthcare, life insurance, and parking, and it's amazing how much of a paycheck can be gone before you even get to rent.