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| *Ostroff, Fair and Company>>>Financial Services |
Job question? |
i'm 16 & starting work fri. my question is how much an hour can i make & how much tax will be taking out of my paycheck & how many hours can i work on weekends & weekdays? Federal minimum wage is $5.85 per hour (http://www.dol.gov/dol/topic/wages/minim... although employers can pay employees younger than 20 as little as $4.25 per hour for their first 90 calendar days of employment. (http://www.dol.gov/elaws/esa/flsa/docs/y... Some states have a different minimum wage than that. For example, Maryland's is $6.15 per hour. (Find your state on this web site: http://www.dol.gov/esa/minwage/america.h... If the federal government and your state's government have different minimum wages, the higher minimum wage prevails. Every state decides how many hours a minor can work. Some, like New York, even require youths to get work permits. Check with your state's department of labor to find out. To find out how much tax will be taken out, check out this web site: http://www.paycheckcity.com/netpaycalc/n... They should have told you how much you would be making an hour. Usually the tax that you have taken out will come back to you in your refund since you will be claimed as a dependant on your parents return. Usually minors cannot work past 10 pm on weekdays or 11 or 12 on weekends. It does depend on the state laws, though. By the way, the previous post is most likely a scam. Without knowing the type job you are taking on--and if you are starting Friday, you should know what your wage is--it's hard to say what you will make an hour. Minimum wages vary by state, but you will probably make about 6 dollars an hour, with about 50 cents taken out of each hour you work for social security taxes. There may be another 60 cents or so for state and federal withholding tax, but you will most likely get all that back at the end of the year. You can probably expect to net about 4.90 an hour, at least. As a rule of thumb, figure about 20 percent of your pay will be withheld for social security and other taxes. Aren't you lucky, they just raised the minimum wage. See the link for current information on this http://www.dol.gov/dol/topic/wages/minim... do u know where this job is located and what to do when you get there -- u should have gotten all of these answers when they hired you -- didn't u fill out any tax forms or is this job a under the table paid job. all i can say if good luck |
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