This is an example: If I were getting paid "under the table" Salary based income of $2,000 (flat) a month...and getting a check cut once a week.....how much should my check be each week? Please explain as far as days in months...or what not? How do you determine you are getting paid right if your weekly check is $465? Does this make sense?
2007-03-09 07:29:29 · 6 answers · asked by Bella 3 in Business & Finance ➔ Careers & Employment
I mentioned to my boss that if I am getting paid $2,000 a month then my check should be $500 a week since it's in fact under the table....and he explained to me that he looks at it like 28 days or something like that. I agree it should be $500 a month....am I getting ripped off or lied to?
2007-03-09 07:38:32 · update #1
Since you are not having taxes withheld, it makes this very easy....
There are 52 weeks in the year soooo.....
$2,000 per month, X 12 months = $24,000 per year
Then divide this by 52 weeks in a year, and you get $461.53 per week. (Of course they rounded up for you, which means that you get an extra $180 per year. ) Sweet deal....
2007-03-09 07:36:49 · answer #1 · answered by pnk517 4 · 1⤊ 0⤋
The other answerers are right about how to figure your weekly pay.
But if you are getting a CHECK every week it is NOT "under the table". At the end of the year the company will issue you a 1099 (they will be required by law to do this, anyone who gets more than $600 in a year gets 1099'd) and you will have to pay your income taxes and your social security taxes on this money.
Checks are traceable and trust me the company's accountant will not NOT issue the 1099's. Either start saving at least 20% of your check for taxes, or find out how your "boss" is going to get around this. Please. I have seen way too many people end up owing the IRS more money than they made in situations like this.
Good luck to you
2007-03-09 15:46:21 · answer #2 · answered by Gem 7 · 1⤊ 0⤋
2000 x 12= 24000 your yearly salary (12 months a year)
24000/52= 461.54, your weekly salary (52 weeks a year)
461.54/5= 92.31 your daily wage (5 day work week)
92.31/8= 11.54 your hourly wage (8 hours a day)
Does this help? Sounds like you are ahead about 3 and a half bucks a week.
Regarding your argument for 500, not every month has four weeks in it, most are 4.5. And you stated you are getting paid weekly based on the monthly salary. The key word here is MONTHLY. You are being paid fairly.
2007-03-09 15:35:12 · answer #3 · answered by zeebarista 5 · 0⤊ 0⤋
Check should be 500/week if you are actually getting paid under the table.
2007-03-09 15:34:59 · answer #4 · answered by tchem75 5 · 0⤊ 1⤋
If you are getting paid $2,000 a month then your weekly cheque should be $461.54 provided you don't get or take any holidays.
2,000 x 12 / 52 = $461.54
If the cheques are made out to your name then they are traceable. If they are made out to cash, then they aren't.
2007-03-09 16:05:42 · answer #5 · answered by babypocket2005 4 · 0⤊ 0⤋
que?
2007-03-09 15:38:39 · answer #6 · answered by rickiramone11 1 · 0⤊ 0⤋