What would the taxes be on Minimum wage?

Question

alright so i just started at a minimum wage job and i'm getting $7.15 an hour. How much in taxes is gonna come out of that?

Answer 1

Judy kind of put everything in perspective and that is your answer. Find the tax table which should verify the amount of taxes.

Answer 2

For a 40-hour week in which you earn $286, figure that $22 is taken for Social Security and Medicare, $11 for federal income tax.  There may be state or local taxes, so $36 a week is a good estimate, leaving you with $250 take-home.

If you are single, the above is true.  If you have a dependent child, you will not owe any income tax.  You will still have to pay Social Security and Medicare, but you will get a refund when you file your taxes, even if you didn't pay any income tax.

Answer 3

Judy is correct, except she didn't mention that a lot depends on how you filled out your W-4.

Hope this helps!

Answer 4

That'll depend on how many hours you work, and what your filing status is.  They'll take out 7.65% for social security and medicare, and might or might not take anything for income tax.  If you are single, not a dependent, and work 40 hours a week for 52 weeks of the year at $7.15, you'd make around $14,872 for the year, and owe about $592 in federal income tax for the year.  You will probably also owe something for state income tax, and possibly local, depending on where you live.