Individuals looking to calculate their first paycheck of 2016 can now do so with complete accuracy. Symmetry Software – the company behind paycheckcity.com –has finished updating the tax rates associated with its online paycheck calculators. The updates include federal, state, and local changes to taxes that went into effect January 1. All calculators featured on the site have been updated, and are simple to use. The more information inputted to any given calculator, the better results. Users must enter required information such as check date, state for withholding, gross pay, pay frequency, federal filing status, and number of federal allowances. Then they must complete any additional withholding information, and enter any voluntary or involuntary deductions. Once finished, an option to print the results surfaces.
The beginning of each New Year is traditionally the most popular time for users to visit PaycheckCity. If an individual is looking to make any changes that will affect his or her paycheck come January, the site is useful for running through multiple situations. Throughout the remainder of the year, PaycheckCity® is updated, making it the most accurate place to model “what-if” scenarios that affect net pay. To access the updated 2016 calculators, visit paycheckcity.com.
These free resources should not be taken as tax or legal advice. Content provided is intended as general information. Tax regulations and laws change and the impact of laws can vary. Consult a tax advisor, CPA or lawyer for guidance on your specific situation.