Question

You decide to get a part-time job at a local hardware store. The job pays $11.00 an hour and you will work 20 hours a week. Your employer withholds 10% of your gross pay for federal taxes, 5.65% for FICA taxes, and 2.5% for the state tax What percentage of the check goes to taxes

Answer 1

To determine what percentage of your check goes to taxes, we first need to calculate your gross pay and then the total amount withheld for taxes.

1. **Calculate Gross Pay:**
- Hourly wage: $11.00
- Hours worked per week: 20

\[
\text{Gross Pay} = \text{Hourly Wage} \times \text{Hours Worked} = 11.00 \times 20 = 220.00
\]

2. **Calculate Tax Withholdings:**
- Federal tax: 10% of gross pay
- FICA tax: 5.65% of gross pay
- State tax: 2.5% of gross pay

Calculate each tax:

\[
\text{Federal Tax} = 0.10 \times 220.00 = 22.00
\]

\[
\text{FICA Tax} = 0.0565 \times 220.00 = 12.43
\]

\[
\text{State Tax} = 0.025 \times 220.00 = 5.50
\]

3. **Total Taxes Withheld:**

\[
\text{Total Taxes} = \text{Federal Tax} + \text{FICA Tax} + \text{State Tax} = 22.00 + 12.43 + 5.50 = 39.93
\]

4. **Calculate the Percentage of the Check That Goes to Taxes:**

To find the percentage:

\[
\text{Tax Percentage} = \left( \frac{\text{Total Taxes}}{\text{Gross Pay}} \right) \times 100
\]

\[
\text{Tax Percentage} = \left( \frac{39.93}{220.00} \right) \times 100 \approx 18.15\%
\]

So, approximately **18.15%** of your check goes to taxes.