Making $24 per hour equals $49,920 per year before taxes (based on 40-hour weeks)

If your hourly rate is $24 and you work 8 hours a day for 5 days a week, your weekly gross revenue would amount to $960, while your monthly gross revenue would be $4,160. Over the course of a year, this would result in a gross revenue of $49,920 before tax deductions. However, after deducting an estimated 12% tax, equivalent to $5,990, your yearly net income would be $43,930. This means that your effective hourly rate after tax would be $21.12.