How do you calculate wage tax?
The question: "How do you calculate wage tax?" has probably already occupied you at some point. Many would like to know what taxes are being deducted before the monthly wage statements are issued.
The same applies when it comes to preparing the annual tax return. Here, too, the answer to the question would be: "How do you calculate wage tax?" very interesting. Of course, a few things must be observed here in order to understand this correctly. The following is intended to show you how you can calculate your personal income tax.
The wage tax is calculated under these conditions
- The prerequisite for having to pay wage tax is a professional activity. You will receive a payment for this activity, which must then be taxed. The wage tax is then calculated from this income.
- If you do not receive the same wages every month, the amount of wage tax will not always be the same.
The factors to be able to set the wage tax
- In order to determine the income tax, it is of course important in which tax class you are.
- These are divided into 6 classes. Tax class I applies to divorced and single people. Class II is used for single parents. Classes III, IV and V are intended for married people. Class VI applies to those who work on two or more control cards.
- In each of these tax brackets, certain allowances are set that are deducted from the tax.
- After deduction of these exemptions, the taxable income remains.
- There are different tax tables for this income, on which you can see exactly how much wage tax is calculated on your income.
- Such Tables can be found on the Internet. You should be careful, however, as these change every year.
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