A wage of $20 an hour, working full-time (40 hours per week), corresponds to about $41,600 annually before taxes. After taxes, depending on federal, state, and other deductions, the take-home pay typically ranges between approximately $31,200 and $35,000 per year in the US. This estimate reflects a rough tax rate around 20-25% on the gross amount. More specifically:
- At $20/hour and 40 hours weekly, gross yearly income is $41,600.
- Assuming a 25% tax rate (federal, state, Social Security, Medicare), take-home pay is roughly $31,200 per year.
- This translates to an approximate hourly rate after taxes of $15 per hour (calculated by dividing annual net income by 2,080 working hours per year).
This is a general estimate; actual tax liability varies by filing status, state, deductions, and credits.
