what taxes will be taken out of my paycheck
Multiply the employeeâs gross pay by 7.65 percent. The result equals the employeeâs Social Security and Medicare tax deductions. 6. Calculate the total amount of tax withheld from the employeeâs check. Divide the result by the employeeâs gross pay to determine the percentage of tax taken out of the paycheck. If you wish to perform a percentage calculation for all employees, calculate the taxes taken out of each employeeâs check individually and total the result.