Question

How much money do they take out of your paycheck for taxes?

I'm just curious about this because i'm about to get my first job and i'm trying to figure out how much money i'll actually be bringing home. If I made minimum wage which is like 8.25 and worked 40 hours a week that would be $330 times two weeks would be $660. but how much of that would I actually get to keep?

Answers

I work full time at $8.25/hour, and my checks are about $550 every 2 weeks.

#1

How much taxes are withheld from your pay depends on how you complete your W-4. If you have too much taken out during the year, you'll get a refund at tax time. But if you have too little taken out you'll owe additional taxes. Here's more info on this topic: http://moneygirl.quickanddirtytips.com/p…

#2

get more details ; open the third & fourth link on: www.tax-paycheck.co.cc

#3

Depends on several things - where you are and what you put on your W-4 form, in addition to the info you give about what you'll make. Enter your info at paycheckcity.com to see what will be withheld.

If you put single/1 allowance on your W-4, withholding would be

Bi-weekly Gross Pay

$660.00

Federal Withholding

$34.63

Social Security

$40.92

Medicare

$9.57

There's probably also withholding for state and possibly local - the amount depends on where you live

#4

Too D- - -M much. I am sick of it. The little people of the great ole USA should revolt.

#5

Depends on your tax bracket. For minimum wage you would be in the lowest tax bracket if that's all you have for income. Also depends if state tax is being with held. This could be anywhere from 20% to 30%. You can figure this out accurately once you get your first check and calculate how much has been taxed.

#6

You can figure about just over 30% of your check will go for taxes. You'll probably see around 440.00 per paycheck.

#7

Here is a site where you can check how much your net amount will be.

http://www.paycheckcity.com/netpaycalc/n…

#8