Salary vs. Hourly WageWhat is a Salary? What is an Hourly

Wage?Is it the same in all

states?

Salary is a set amount an employer pays an employee for a job. The hours worked do not matter, you still get

paid the same. This applies to most businesses and not to the Federal Government.

Hourly Wage is an amount paid for each hour an

employee works. How do you find the amount you

make for each day or week or month you work?

Salary

IF YOU MAKE $55 ,000 /YEAR, HOW MUCH WOULD YOU MAKE A MONTH?

NOW HOW MUCH OF IT WOULD BE AFFECTED BY TAXES?

You will be charged 13.38% for federal taxesYou will be charged 6.2% for Social Security

taxesYou will be charged 1.45% for Medicare taxesAnd you have to consider the state

taxes…..let’s just say it is 5% of you gross.