Maine Paycheck Calculator – What exactly is it?
As the name suggests, Maine Paycheck Calculator is a payroll generator specifically designed for the state. It helps all employers, entrepreneurs & self-employed individuals to calculate their take-home pay in minutes. This tool is mainly used for easing payday for both – employees and independent contractors. We have both – salary and Maine Hourly Paycheck Calculator to help employers get sorted regardless of the type of workers they have.
How much does a Maine Paystub generator cost?
No matter if you’re creating a paycheck for employees or independent contractors/freelancers, we charge a nominal amount – $4.99 per paystub only. Even if we offer a paycheck instantly at such a cheap rate, we don’t compromise the quality. You can compare our paystub with other sites and you’ll get to know what a ‘professionally approved’ tool means.
Which tax deductions are made with Maine Payroll Calculator?
Let us have a quick overview of Maine taxes to help you identify the total tax deductions made from paychecks.
✅ State taxes (progressive income tax rate applies here with lowest as 5.8% & highest as 7.15%)
✅ FICA tax deductions – Medicare (1.45%) & Social Security taxes (6.2%)
✅ Federal taxes
As you’re now aware of the deductions from the paychecks, you should also know a few things along. For instance, the employers will match the same % of amounts they deduct from employee paychecks for state taxes. They’ll then file them towards annual income tax to the IRS. In case the employee is earning more than $200,000 then they’ll have to pay an additional 0.9% towards Medicare. And this will not be matched by the employer and the employee has to pay alone.
Every employee should be responsible enough for reporting their life status with W-4 Form. This includes income (all types of earnings), marital status, tax filing status if they have dependents, and so on. Share all those essential details using W-4 Form so that you can also plan savings by decreasing your taxable income. You may choose to contribute towards disability insurance premiums, life insurance schemes, health insurance, etc.
When you use our Maine Paycheck Calculator, these deductions will be made automatically as per the details fed with the tool.
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Maine Paycheck Calculator