If I'm self employed and only get payed 11.00 dollars an hr. how much taxes will I pay at end of year?
Answers (1)
***Amount you make X how many hours you work X how many weeks this will give you your total for the year.
Multiply that time at least 15% (depends on the tax in your area) this will give you about how much tax you would have to pay.
For example:
$11/hr. X 40 hour work week = $440
$440 a week x 52 weeks in a year = $22,880
$22,880 X 15% = $3,432
You would need to pay about $3,432
Since you self-employed you can set your tax to be paid every 3 months or so.