how many hours a week do i need to work to bring home 900$ after taxes if my hourly rate of pay is 12.50 an over time pay is 14.00 after 40 hours.

Question

How many hours a week do I need to work to bring home 900$ after taxes if my rate of pay is 12.50 an over time rate is 14 after 40 hours.

Answer 1

Since I do not have a tax rate, I going to look at the Maryland Tax rate. Since $12.50 is close to minimum wage I used the lowest Maryland tax rate, which is 2%, but to solve the problem as you have it written we need that information, and I cannot guarantee my answer is correct because I had to look up the information and do not know for sure it is the tax rate you needed to solve the problem.
Step 1: First convert your tax rate to a decimal.
a. 2% converts to 0.02 – this is because percent are out of one hundred and decimals are set in a base ten system, so you can convert simply by dividing the number in the percent by 100.

Step 2: Multiply the rate of pay by the decimal form of the tax rate found in step 1 to determine the amount lost to taxes per hour.
a. $12.50 x 0.02 = 0.25
Step 3: Subtract the difference found in step 2 from the rate of pay given in the problem to find the rate of pay after taxes.
a. $12.50 – 0.25 = $12.25
Step 4: Now multiply the rate of pay after taxes found in step 3 by 40, to determine how much money you will have before being paid overtime after taxes.
a. $12.25/hour x 40 hours = $490 – hours cancels itself out because it is in both the divisor and the dividend in equal amounts.
Step 5: Subtract the amount earned during 40 hours of work found in step 4, from the amount you want to make, to determine how much money you will need to earn with overtime pay.
a. $900 – $490 = $410
Step 6: Now we will need to find the overtime rate of pay after taxes, just like when we found the rate of pay, we need to multiply the overtime rate of pay by the decimal form of the tax rate to determine the amount lost to taxes per hour.
a. $14 x 0.02 = $0.28
Step 7: Subtract the tax amount found in step 6 from the overtime rate of pay to determine the overtime pay per hour after taxes.
a. $14 - $0.28 = $13.72
Step 8: Divide the amount of money you need to earn with overtime pay found in step 5 by the overtime pay per hour after taxes found in step 7 to determine how many overtime hours you will need to reach the needed amount.
a. $410 ÷ $13.72/hour = 29.8834 hours
Step 9: Now add the number of overtime hours needed, found in step 8, with the 40 regular hours that needed to be worked to determine how many hours you needed to work to make $900.
a. 40 hours + 29.8834 hours = 69.8834 hours
Okay so technically that is the answer, but many work places only break to the quarter or half hour, and they never round down, so if you want to be sure that you will make $900, I would recommend working 70 hours just to be safe.