Federal Income Tax

• This is a tax taken by the federal government based on your gross income minus contributions to a 401k or 403b (retirement plan) and certain deductions for medical insurance. This is based on the number of exemptions you claim.
  
  

FICA

• This stands for Federal Insurance Contributions Act, and funds Social Security and Medicare. The Social Security is 6.2 percent of your earnings, while the Medicare portion is 1.45 percent of your earnings, totalling 7.65 percent.
  
  

State Taxes

• State taxes vary depending on the state in which you live. Some states do not have personal income tax, so in those states this deduction would not apply.
  
  

State Unemployment And Disability

• This is payment for state unemployment and disability insurance. Some states require wage earners to pay for this.
  
  

Considerations

• All of these taxes that are applicable within your state will be deducted from your paycheck. Even the self-employed are liable for these taxes, although it may only be in quarterly payments.