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The labor cost percentage varies based on the state where the employee is hired and on their personal and family situation. An example of calculation of the net wages for an unmarried employed worker hired in the state of New York follows. In the United States, it is common practice to pay wages every two weeks [so there are 56 "pay periods" or paychecks a year]
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Payroll service for the United States Labor, Recordkeeping, Calculation and Tax Obligations for Managing Employed Workers in the US ExportUSA offers a service of calculating and paying contributions for employed workers that includes calculation and bookkeeping for employee contributions, the withholding agent service for calculating and paying federal, state and local taxes, and fulfilment of all tax tasks with generation of the reports necessary for the year-end income tax return [both the corporate return and the employeeís return]. We are also specialized in payroll and contribution recordkeeping and in paying contributions in those cases in which the US unions are involved. This is the classic case of a company that has to carry out restoration work for stores or apartments in, for example, New York, a city notoriously unionized for this type of business. The peculiarities of the bureaucratic management of work performed with the unions in the US are not to be underestimated because the consequences can be critical at the operational and sanction level. ExportUSA has the experience necessary to handle the relationship with the unions in the US and to manage all the accounting relating to the calculation and payment of contributions to the employed workers if work is performed with the unions. |
Gross bi-weekly wages $3,076.92
* annual basis: gross wages $80,000
* State of New York
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Net bi-weekly wages $2,012.04
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The total percentage of taxes and contributions in the United States for the employed worker in this case is approximately 33% of the gross paycheck. Taxes might be lower in other states. The personal and family situation of the employed worker is also a factor determining the total tax expense.
The case in question in the example considers gross wages of $80,000 a year.
In the US, the net earning of personnel then varies depending on the state where the worker performs their job, the family conditions of the personnel [married, with or without children] and also the method with which the worker chooses to submit the personal income tax return [return as married and jointly with the spouse, return as married but separate from the spouse, return as head of family, etc.]
To calculate the net paycheck amount and the net wages of an employee in the United States, a case-by-case analysis therefore has to be made starting from the gross paycheck and from the personal and family conditions of the employee.
ExportUSA works with several labor consultant firms specialized in the United States. You can request labor consultancy:
ExportUSA as a Tax Preparer authorized to prepare income tax returns in the US on its staff
https://www.exportusa.eu/tax-assistance-usa.php