It's my first job and I'm making $7.25 an hour. About how much will I have after taxes?

Question

I live in NY, but I think the rates are somewhat similar between states for a part-time job. I'm 17 btw.

Answer 1

Look at your first Paycheck it breaks down the different deductions.

Ingrid

Answer 2

Single - Claiming 1 or O?

You can use the paycheck calculator on surepayroll.com

Answer 3

It all depends on how many deductions you have claimed.  The more deductions claimed, the less taxes taken out.  As you are under 18, your parents will most likely claim you as a dependent, which means that you can't claim yourself.  You can claim yourself if you have any children, and then you claim them as well.

It is also possible that you will not have to pay any federal taxes since you are a minor.  That depends on how much you make this year, gross (before taxes).

For me, I claim zero dependents, even though I have four, and I end up with about 72% of my paycheck in the bank.  That's after insurance and my 403B are taken out as well.

Also note that the first $4000 earned at a job will not have federal taxes taken off, but you must still claim that $4000 when filing.