If I make $8.50/hour, how much is taken out for tax?

Question

I am looking for a job and need to make a certain amount of money, AFTER tax. I live in Dallas/Fort Worth, TX (just in case that has anything to do with how much is taken out for tax). If I work for $8.50/hour full time (40 hours/week), will I make at least $1,200 a month AFTER taxes?

Answer 1

A working month is around 22 days,

since calendar months are longer than 4 weeks.

22 x 8 x 8.50 = 1496, call it 1500.

1200 is 80% of that,

so if no more than 20% is taken in taxes,

you'll have your 1200.

Soc. Security and Medicare are about 10%.

8.50/hr translates to 17000 / year

and Fed Income tax at that level is probably around 10%.

Texas does not have state income tax,

but there may be some other items like

unemployment insurance, etc.

It will be very close one way or the other.

.

Answer 2

8.50 x's 40=340.00

340.00 x's 2= 680.00 every 2 weeks

680.00 x's 2= 1360.00

now i don't know what you claimed on your w-4 so i don't know about how much taxes will be deducted from their,you can do the math from what i provided so far.

Answer 3

approx 8% SSI, fed tax is less than 10%

state tax in TX I think is zero.

Yes you should have about $1200 a month in 4.33 weeks per month average.

Answer 4

Google pay roll calculators, they will have you fill in your hourly wage, hrs worked, your filing status ( single, married), how many dependents and give you an exact amount.

Answer 5

That depends on how old you are and how many dependents if any you are claiming.

Answer 6

Salary Paycheck Calculator

Your Pay Check Results  

Weekly Gross Pay

$340.00

Federal Withholding

$36.00

Social Security

$21.08

Medicare

$4.93

Texas - state taxes

$0.00

  

Net Pay

$277.99

Total take home pay for 1 month is $1111.96 based on a 40 hour work week and your being single. That is just about $900 less than your target take home pay per month.

Answer 7

Current day, about $1.25 will be taken out as taxes.

With Obama as President? $8.00 will be taken out as taxes.