if i make 8.97 at my job now, but after taxes i get 7.36 when divided by my hours, how much of a percentage of my wage is taken out by taxes?
my pay rate is 8.97
i worked 35.30 hours
my check was $260.06
how much of a percentage was taken out by taxes?
James™
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100 -(7.36 / 8.97 * 100) = 17.95%
8.97*35.3 = 316.641
7.36*35.3 = 259.808
100 - (259.808 / 316.641 * 100) = 17.95%
minorchord2000
I you work 35.3 hours and your check is 260.06, then the net wage is 260.06/35.3 = 7.367, not 7.36, then the decrease is (8.97-7.367) = 1.603 so the decrease in percentage is 1.603/8.97 = 17.87%.
Your gross check would have been 8.97*35.30 = 316.64 so the tax bite is (316.64-260.06) = 56.58 or 56.58/316.64 = the same 17.87%.
answer: 17.87%
Steven B
Without taxes = 8.97 x 35.3 = 316.64
With taxes = 260.06
So taxes took (316.64-260.06) of 316.64
Which is (56.58)/(316.64) = .1786 which is 18%
theaccountant
8.97-7.36=1.61
1.61/8.97=.179=18%