I'm starting my first job in a few days at $9.00 an hour in California, and will make $360 dollars per week. I am 16 years old. How much can I expect to give in taxes?
2006-07-17 17:52:29 · 4 answers · asked by fslcaptain737 4 in Business & Finance ➔ Careers & Employment
At that wage, figure to loose @ one-fourth each week. You'll have about 270 after the 90 is taken out. But you'll get some of it back when you file your income tax form. You may even qualify for earned income credits (and thus will get even more back than your regular refund).
2006-07-17 18:00:06 · answer #1 · answered by The Invisible Man 6 · 0⤊ 0⤋
besides Fed taxes, there is Social security, and state taxes.
Expect to lose somewhere between 20 and 35 percent, from the various deductions.
at your pay rate, 20 percent is going to be closer to correct than 35.
You could call payroll and ask.
2006-07-18 00:58:03 · answer #2 · answered by nickipettis 7 · 0⤊ 0⤋
FICA is a straight 7.65% right off the top.
If your parents claim you as a dependent (and I'm sure they will), you will probably end up paying upwards of 20% of your income in federal income taxes.
I don't know what the state taxes are in Cali, but you'll also have to figure that in.
Ahh...it sucks, but welcome to the world of the working.
2006-07-18 00:57:31 · answer #3 · answered by seattlecutiepie 5 · 0⤊ 0⤋
Go to www.paycheckcity.com. This is an awesome tool that calculates your withholdings.
2006-07-18 01:30:40 · answer #4 · answered by mosig_111 3 · 0⤊ 0⤋