I'm going to be getting my first paycheck from my first job. How much money will be taken out for taxes?

Question

I'm 16 years old.

Answer 1

It depends on how much you make. I always set aside 15%.

Answer 2

Average loss to taxes, etc., is about 22% to 23% of the gross wages.

Answer 3

It depends on where you live, and how you filled out your W-2, and how much you make for that paycheck.

They'll take 7.65% for social security and medicare, and probably additional amounts for other taxes.

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