How To Calculate Overtime Taxes?
I was wondering. How do I calculate overtime withholdings tax on a paycheck. (Example) I make 7.65 an hour with anything over 80 hours every 2 weeks considered overtime, and I put in 120 hours for those 2 weeks, how do I calculate how much money goes to taxes. I recently received a 750.00 paycheck for 80 regular hours, and 40 overtime hours. I thought it would be more then that. Something smells fishy.
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asked 3 years ago
1 Answer - Sort by: Date | Rating
Overtime is taxed at the same rate as other income. However, if you worked enough over time in one pay period it might have moved you into a higher tax bracket and any money over that limit would have been taxed at a higher rate. This may be why your check seemed smaller than you thought.
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