How to Calculate the Dollar Amount of Taxes Paid
- 1). Obtain a copy of your most recent pay stub. If you use direct deposit to receive your paycheck, you may be able to look up your recent pay stubs online. Otherwise, contact your human resources department to get a copy.
- 2). Circle the taxes paid in each category on your pay stub. You should see entries for federal income tax (FIT), Social Security taxes and Medicare taxes, as well as entries for state and local taxes.
- 3). Create a spreadsheet listing each category of taxes shown on your pay stub. Enter the amount of each tax into the spreadsheet.
- 4). Multiply the amount of each tax shown on your pay stub by the number of pay periods per year. If you get paid twice a month, you would multiply the figures on your pay stub by 24. If you get paid every two weeks, you would multiply those figures by 26.
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