Gross vs net pay

[Anonymous]

I want to bring home $15 an hour after taxes. Does anyone know approximately how much I need to get paid before taxes to make this amount? I know it depends on my tax bracket but does anyone have an estimate? TIA

[Anonymous]

$19 and hour should cover it.

[Anonymous]

Thank you. Anyone else?

[Anonymous]

Anonymous wrote:Thank you. Anyone else?

It is not really an opinion question, OP, it is a formula. Look it up or do a simple equation with a past paycheck.

[Anonymous]

add $3ps, so $18 rate, and remember that implies your employer is actually paying $20 per hour ($2 to gov't, $18 to you, you then give $3 to gov't, pocket $15).

enjoy!

[Anonymous]

Anonymous wrote:I want to bring home $15 an hour after taxes. Does anyone know approximately how much I need to get paid before taxes to make this amount? I know it depends on my tax bracket but does anyone have an estimate? TIA

How much do you need per week or month for your personal budget?
or is this just a net rate thing, regardless of hours?

[Anonymous]

http://lmgtfy.com/?q=salary+paycheck+calculator

[Anonymous]

Federal tax is approx. 10% (depends on deductions and exemptions
FICA is 7.65%
MD or VA state is 5.75%
so total tax is 23.4%

so divide $15 by 76.6% (which is 1-23.4%)
= $19.50

Plus your employer also pays a separate FICA tax of 7.65%

[Anonymous]

God OP, you are so lucky someone took the time to do this math for you...