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Browse: Home / MONEY / Taxes

How do state and federal income taxes work?

Matthew M: How do state and federal income taxes work?
I am 16, live in Michigan, and recently started working my first real job. On my most recent paycheck over half of it went to Federal Income taxes, State Income taxes, Social Security taxes, and Medicare taxes. Does this sound right?

Answers and Views:

Answer by P J
How many exemptions did you use on your W-4 when you filled it out?

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