So I'm applying for my first job, If I make?

Question

6.50 an hour

For 4 hours 6 days a week.

I'll make 156.00. (according to my calculations)

But how much will I be taking home?

How much will tax take away from my paycheck? And Is there anyway I dont have to pay for tax?

I'm new to all of this so please help!

Answer 1

You can go to www.paycheckcity.com, it is a safe site, and there you can type in your pay, number of hours, etc and you will get an exact amount that your paycheck will be.  If you are only working for the summer and make less than $3400 then you will get all of your federal withholding back, but you still will have to pay SS and Medicare taxes, they are not refunded.  They will probably withhold 10% of your income for federal tax ($15.60 a week) but you should get that back next year when you file your 1040 EZ form if you make less than the $3400 I noted above.

Answer 2

Figure 10% Fed tax, 7.25% Fica and whatever your state tax rate is.

$15.60 for Federal.

$11.31 for Fica.

And whatever your state tax is. May be couple percent.

You will be able to get most or all of the Fed and State tax back when you file your tax returns next year.

ps: Dont fall for those $2000.00 per month scams that the previous person is trying to get you to follow fall for.

They will only take your money.