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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
How much tax do i get on my overtime ??? ive heard its 33% on full time employment, no matter how much u earn? |
How much tax do i get on my overtime ??? ive heard its 33% on full time employment, no matter how much u earn? the same as you get on regular time....your tax is computed on the whole or the sum of all earned income.......... This can't be answered but by you, it depends how and what you claim on your W2, everyone is different. You can answer this by looking at the IRS 2006 tax rate schedules at http://www.irs.gov/formspubs/article/0,,... Also here's a few other taxes thats taken out Tax isn't figured with your 401k Federal Tax after 401k (see chart) Social Security Gross 6.2% Medicare Gross 1.45% Your tax rate is figured on how much you earn. The more you earn the higher tax bracket you could go into. You could be at 33% one week. You could go into 38 to 40% bracket if you work twice as much. Income is figured on what you earn each week times 52 weeks. 1000.00 per week equals 52,000 per year. make 1,5000 one week and you will be taxed as if you are making 78,000 per year even though you will only be making around 52,000 per year. Don't worry you can get back at the end of the year after Uncle Same got to use your extra income tax free. |
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