$55,000 a Year is How Much an Hour? (Before and After Taxes)

Person with a phone making $55,000 a year.

So you will make $55,000 a year from your new job or promotion. But $55,000 a year is how much an hour?

Below you will find how much $55,000 is hourly, daily, weekly, biweekly, monthly, and even after taxes. There’s also an example budget you can use when making $55,000 a year.

To figure out how much $55,000 a year is as an hourly wage, divide $55,000 by 40 hours and 52 weeks. So if you were to work full-time, 40 hours a week, making $55,000 a year, you would earn $26.44 an hour.

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Comparison Table of $55,000 a Year (Before & After Taxes)

Here is a comparison table of the pretax and after-tax income of $55,000 a year:

$55,000 a YearPretax IncomeAfter-Tax Income
Yearly (52 Weeks)$55,000$41,250
Monthly (160 Hours)$4,230.77$3,173.08
Biweekly (80 Hours)$2,115.38$1,586.54
Weekly (40 Hours)$1,057.69$793.27
Daily (8 Hours)$211.54$158.65
Hourly (1 Hour)$26.44$19.83

$55,000 a Year is How Much an Hour?

If you make $55,000 a year, your hourly wage would be $26.44. This is calculated by dividing the $55,000 yearly salary by 2,080 total annual hours worked.

There are 52 weeks in the year, and if you work a full-time job, you will typically work 40 hours a week on average. So when you multiply these two numbers together (40 hours and 52 weeks), you will get an answer of 2,080 total annual hours.

Now you can take your yearly salary of $55,000 and divide it by 2,080 annual hours worked to get your hourly wage.

If you decide to take some time off work to, for example, go on a vacation, your total annual hours worked would be reduced. This may result in the hourly wage ($26.44) changing slightly.

Find Out: $54,000 a Year

$55,000 a Year is How Much an Hour After Taxes?

If you make $55,000 a year, you would take home $19.83 an hour after taxes. Your pre-tax hourly wage was $26.44. But after paying 25% in taxes, your after-tax hourly wage would be $19.83 a year.

The amount you pay in taxes depends on many different factors. But assuming a 25% to 30% tax rate is reasonable.

That means about a third to a fourth of your income will go to taxes at $55,000 a year. There are ways to minimize how much you pay in taxes. However, for the average person, assuming this amount as a tax rate can be expected.

55,000 Dollars a Year is How Much After Taxes?

Anyone making $55,000 a year will have an after-tax income of $41,250. This number is calculated by assuming you will pay around 25% of your income towards taxes.

When you’re earning 55,000 dollars annually, it is always a good idea to know your after-tax annual income and hourly wage.

That said, your estimated after-tax salary is $41,250, meaning a portion of your gross income will go towards taxes.

It’s important that you file your taxes correctly every year. This way, you don’t pay more than you have to.

If you don’t like to worry about whether or not you paid the correct amount in taxes on a 55,000 dollar salary, then you need to use TurboTax.

They have a maximum refund and 100% accuracy guarantee. So when you use TurboTax, you can rest assured your taxes will be filed correctly no matter your income.

$55,000 a Year is How Much a Month?

If you make $55,000 a year, you will make $4,230.77 a month before taxes, assuming you are working full-time. Each month after taxes, you will make approximately $3,173.08.

A full-time worker or employee works at least 40 hours a week. If you work either more or fewer hours, this amount will vary slightly.

For this calculation, we will use 160 hours (40 hours multiplied by 4 weeks in a month) to calculate the monthly income of $4,230.77.

Sometimes, if you work more than 40 hours a week, you might be eligible for overtime pay. Overtime pay is 1.5 times what you usually make. So you could end up making more than just $26.44 an hour.

Learn More: $53,000 a Year

$55,000 a Year is How Much Biweekly?

$55,000 a year is $2,115.38 biweekly before taxes and approximately $1,586.54 after taxes. Paying a tax rate of 25% and working full-time at 40 hours a week, you would earn $1,586.54 after taxes.

To calculate how much you make biweekly before taxes, you would multiply the hourly wage for $55,000 a year, $26.44 by 80 hours to get $2,115.38.

Most employers send out paychecks every two weeks. So you may hear people refer to their biweekly pay as their paycheck. That said, you could technically say you make $2,115.38 each paycheck before taxes and $1,586.54 after taxes.

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$55,000 a Year is How Much a Week?

If you make $55,000 a year, you will get paid $1,057.69 a week. This amount is calculated by assuming you work full-time for all four weeks of the month. If you multiply 40 hours by $26.44 an hour, you get $1,057.69, your weekly income.

See: $52,000 a Year

55,000 Dollars a Year is How Much a Day?

$55,000 a year is $211.54 per day before taxes. The standard workday is 8 hours. So by multiplying 8 hours by $26.44 an hour, you would earn $211.54 every day. After taxes, you would earn $158.65 a day.

Tools You Need to Live on $55,000 a Year

So you’re earning $55,000 a year but want to make the most of that money. Here are the best tools you need to start using when living on this amount of income.

CIT Bank

Now that virtually everything is done online so is banking. CIT Bank consistently ranks high as one of the most reliable and trustworthy banks.

When you open up a checking or savings account with them, you do not need to worry about any annoying fees. Start building your savings up the right way with CIT Bank.

TurboTax

Taxes can be quite complicated but they don’t have to be. This is especially true if your annual income is $55,000. TurboTax makes filing your taxes simple with their 100% accuracy and maximum refund guarantee.

Survey Junkie

Everyone enjoys earning some extra cash. Well, Survey Junkie makes it possible for you to actually get paid to share your opinions on products and services.

It is some of the easiest money you could ever make. If you’ve got some spare time, fill out one of their surveys and get paid.

Check out Survey Junkie today and start taking surveys to receive PayPal money and gift cards.

FreshBooks

If you’re making $55,000 a year and are a sole proprietor, business owner, or freelancer, you need to start using FreshBooks. They are an affordable accounting and invoicing software that makes sending invoices and tracking expenses simple.

They are perfect whether you’re a beginner or expert in your field and even offer a free trial. So what are you waiting for? Start saving time using FreshBooks today.

How To Budget $55,000 a Year

Creating a monthly budget for how much you need to spend, save, and invest is not as difficult as it seems. First, you will need to find your after-tax income. This is otherwise known as your take-home pay. Your take-home pay for $55,000 a year or $26.44 an hour is approximately $3,173.08 a month.

You then will need to split that $3,173.08 after-tax income into different categories. These categories represent your expenses, savings, and investments. If you make $55,000 a year, this is an example of what your monthly budget can look like:

CategoryBudget AmountPercentage
Housing$951.9230%
Saving and Investing$475.9615%
Insurance$475.9615%
Food$317.3110%
Transportation$317.3110%
Entertainment and Recreation$317.3110%
Personal Expenses$158.655%
Utilities$158.655%
Total$3,173.08100%

Is $55,000 a Year a Good Salary?

A $55,000 salary is slightly higher than the average salary in the United States. In America, the average annual salary is $53,490.

So if you make $55,000 a year, you are making $1,510 more than the average U.S. salary.

Look: $51,000 a Year

$55,000 a Year Salary After Taxes in 2022 (By State)

Here is your estimated $55,000 a year salary after taxes in 2022 for each state. Your after-tax income will change based on state taxes.

Alabama ( $43,423 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.15% ) – $2,283

FICA ( 7.65% ) – $4,208

Total Alabama Income Taxes ( 21.05% ) – $11,578

Annual Take-Home Pay in Alabama ( 78.95% ) – $43,423

Alaska ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total Alaska Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in Alaska ( 83.10% ) – $45,705

Arizona ( $44,492 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 2.21% ) – $1,213

FICA ( 7.65% ) – $4,208

Total Arizona Income Taxes ( 19.11% ) – $10,508

Annual Take-Home Pay in Arizona ( 80.89% ) – $44,492

Arkansas ( $43,544 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.93% ) – $2,161

FICA ( 7.65% ) – $4,208

Total Arkansas Income Taxes ( 20.83% ) – $11,456

Annual Take-Home Pay in Arkansas ( 79.17% ) – $43,544

California ( $43,891 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.30% ) – $1,814

FICA ( 7.65% ) – $4,208

Total California Income Taxes ( 20.20% ) – $11,109

Annual Take-Home Pay in California ( 79.80% ) – $43,891

Colorado ( $43,774 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.51% ) – $1,931

FICA ( 7.65% ) – $4,208

Total Colorado Income Taxes ( 20.41% ) – $11,226

Annual Take-Home Pay in Colorado ( 79.59% ) – $43,774

Connecticut ( $43,131 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.68% ) – $2,574

FICA ( 7.65% ) – $4,208

Total Connecticut Income Taxes ( 21.58% ) – $11,869

Annual Take-Home Pay in Connecticut ( 78.42% ) – $43,131

Delaware ( $43,219 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.52% ) – $2,486

FICA ( 7.65% ) – $4,208

Total Delaware Income Taxes ( 21.42% ) – $11,781

Annual Take-Home Pay in Delaware ( 78.58% ) – $43,219

Florida ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total Florida Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in Florida ( 83.10% ) – $45,705

Georgia ( $43,135 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.67% ) – $2,570

FICA ( 7.65% ) – $4,208

Total Georgia Income Taxes ( 21.57% ) – $11,865

Annual Take-Home Pay in Georgia ( 78.43% ) – $43,135

Hawaii ( $42,190 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 6.39% ) – $3,515

FICA ( 7.65% ) – $4,208

Total Hawaii Income Taxes ( 23.29% ) – $12,810

Annual Take-Home Pay in Hawaii ( 76.71% ) – $42,190

Idaho ( $43,192 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.57% ) – $2,513

FICA ( 7.65% ) – $4,208

Total Idaho Income Taxes ( 21.47% ) – $11,808

Annual Take-Home Pay in Idaho ( 78.53% ) – $43,192

Illinois ( $43,100 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.74% ) – $2,605

FICA ( 7.65% ) – $4,208

Total Illinois Income Taxes ( 21.64% ) – $11,900

Annual Take-Home Pay in Illinois ( 78.36% ) – $43,100

Indiana ( $43,961 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.17% ) – $1,744

FICA ( 7.65% ) – $4,208

Total Indiana Income Taxes ( 20.07% ) – $11,039

Annual Take-Home Pay in Indiana ( 79.93% ) – $43,961

Iowa ( $43,577 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.87% ) – $2,129

FICA ( 7.65% ) – $4,208

Total Iowa Income Taxes ( 20.77% ) – $11,424

Annual Take-Home Pay in Iowa ( 79.23% ) – $43,577

Kansas ( $43,327 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.32% ) – $2,378

FICA ( 7.65% ) – $4,208

Total Kansas Income Taxes ( 21.22% ) – $11,673

Annual Take-Home Pay in Kansas ( 78.78% ) – $43,327

More About Salaries: $50,000 a Year

Kentucky ( $43,090 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.76% ) – $2,616

FICA ( 7.65% ) – $4,208

Total Kentucky Income Taxes ( 21.66% ) – $11,911

Annual Take-Home Pay in Kentucky ( 78.34% ) – $43,090

Louisiana ( $44,176 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 2.78% ) – $1,529

FICA ( 7.65% ) – $4,208

Total Louisiana Income Taxes ( 19.68% ) – $10,824

Annual Take-Home Pay in Louisiana ( 80.32% ) – $44,176

Maine ( $43,346 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.29% ) – $2,360

FICA ( 7.65% ) – $4,208

Total Maine Income Taxes ( 21.19% ) – $11,655

Annual Take-Home Pay in Maine ( 78.81% ) – $43,346

Maryland ( $43,544 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.93% ) – $2,162

FICA ( 7.65% ) – $4,208

Total Maryland Income Taxes ( 20.83% ) – $11,457

Annual Take-Home Pay in Maryland ( 79.17% ) – $43,544

Massachusetts ( $43,175 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.60% ) – $2,530

FICA ( 7.65% ) – $4,208

Total Massachusetts Income Taxes ( 21.50% ) – $11,825

Annual Take-Home Pay in Massachusetts ( 78.50% ) – $43,175

Michigan ( $43,576 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.87% ) – $2,129

FICA ( 7.65% ) – $4,208

Total Michigan Income Taxes ( 20.77% ) – $11,424

Annual Take-Home Pay in Michigan ( 79.23% ) – $43,576

Minnesota ( $43,224 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.51% ) – $2,481

FICA ( 7.65% ) – $4,208

Total Minnesota Income Taxes ( 21.41% ) – $11,776

Annual Take-Home Pay in Minnesota ( 78.59% ) – $43,224

Mississippi ( $43,610 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.81% ) – $2,095

FICA ( 7.65% ) – $4,208

Total Mississippi Income Taxes ( 20.71% ) – $11,390

Annual Take-Home Pay in Mississippi ( 79.29% ) – $43,610

Missouri ( $43,874 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.33% ) – $1,832

FICA ( 7.65% ) – $4,208

Total Missouri Income Taxes ( 20.23% ) – $11,127

Annual Take-Home Pay in Missouri ( 79.77% ) – $43,874

Montana ( $43,313 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.35% ) – $2,393

FICA ( 7.65% ) – $4,208

Total Montana Income Taxes ( 21.25% ) – $11,688

Annual Take-Home Pay in Montana ( 78.75% ) – $43,313

Nebraska ( $43,354 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.27% ) – $2,351

FICA ( 7.65% ) – $4,208

Total Nebraska Income Taxes ( 21.17% ) – $11,646

Annual Take-Home Pay in Nebraska ( 78.83% ) – $43,354

Nevada ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total Nevada Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in Nevada ( 83.10% ) – $45,705

New Hampshire ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total New Hampshire Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in New Hampshire ( 83.10% ) – $45,705

New Jersey ( $44,214 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 2.71% ) – $1,491

FICA ( 7.65% ) – $4,208

Total New Jersey Income Taxes ( 19.61% ) – $10,786

Annual Take-Home Pay in New Jersey ( 80.39% ) – $44,214

New Mexico ( $43,904 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.27% ) – $1,801

FICA ( 7.65% ) – $4,208

Total New Mexico Income Taxes ( 20.17% ) – $11,096

Annual Take-Home Pay in New Mexico ( 79.83% ) – $43,904

New York ( $43,169 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.61% ) – $2,536

FICA ( 7.65% ) – $4,208

Total New York Income Taxes ( 21.51% ) – $11,831

Annual Take-Home Pay in New York ( 78.49% ) – $43,169

Check Out This Annual Salary: $49,000 a Year

North Carolina ( $43,382 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.22% ) – $2,323

FICA ( 7.65% ) – $4,208

Total North Carolina Income Taxes ( 21.12% ) – $11,618

Annual Take-Home Pay in North Carolina ( 78.88% ) – $43,382

North Dakota ( $45,220 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.88% ) – $485

FICA ( 7.65% ) – $4,208

Total North Dakota Income Taxes ( 17.78% ) – $9,780

Annual Take-Home Pay in North Dakota ( 82.22% ) – $45,220

Ohio ( $44,886 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 1.49% ) – $819

FICA ( 7.65% ) – $4,208

Total Ohio Income Taxes ( 18.39% ) – $10,114

Annual Take-Home Pay in Ohio ( 81.61% ) – $44,886

Oklahoma ( $43,511 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.99% ) – $2,194

FICA ( 7.65% ) – $4,208

Total Oklahoma Income Taxes ( 20.89% ) – $11,489

Annual Take-Home Pay in Oklahoma ( 79.11% ) – $43,511

Oregon ( $41,421 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 7.79% ) – $4,285

FICA ( 7.65% ) – $4,208

Total Oregon Income Taxes ( 24.69% ) – $13,580

Annual Take-Home Pay in Oregon ( 75.31% ) – $41,421

Pennsylvania ( $44,017 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 3.07% ) – $1,689

FICA ( 7.65% ) – $4,208

Total Pennsylvania Income Taxes ( 19.97% ) – $10,984

Annual Take-Home Pay in Pennsylvania ( 80.03% ) – $44,017

Rhode Island ( $44,149 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 2.83% ) – $1,556

FICA ( 7.65% ) – $4,208

Total Rhode Island Income Taxes ( 19.73% ) – $10,851

Annual Take-Home Pay in Rhode Island ( 80.27% ) – $44,149

South Carolina ( $43,278 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.41% ) – $2,427

FICA ( 7.65% ) – $4,208

Total South Carolina Income Taxes ( 21.31% ) – $11,722

Annual Take-Home Pay in South Carolina ( 78.69% ) – $43,278

South Dakota ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total South Dakota Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in South Dakota ( 83.10% ) – $45,705

Tennessee ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total Tennessee Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in Tennessee ( 83.10% ) – $45,705

Texas ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total Texas Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in Texas ( 83.10% ) – $45,705

Utah ( $42,983 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.95% ) – $2,723

FICA ( 7.65% ) – $4,208

Total Utah Income Taxes ( 21.85% ) – $12,018

Annual Take-Home Pay in Utah ( 78.15% ) – $42,983

Vermont ( $44,105 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 2.91% ) – $1,600

FICA ( 7.65% ) – $4,208

Total Vermont Income Taxes ( 19.81% ) – $10,895

Annual Take-Home Pay in Vermont ( 80.19% ) – $44,105

Virginia ( $43,112 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.71% ) – $2,593

FICA ( 7.65% ) – $4,208

Total Virginia Income Taxes ( 21.61% ) – $11,888

Annual Take-Home Pay in Virginia ( 78.39% ) – $43,112

Washington ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total Washington Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in Washington ( 83.10% ) – $45,705

West Virginia ( $43,350 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.28% ) – $2,355

FICA ( 7.65% ) – $4,208

Total West Virginia Income Taxes ( 21.18% ) – $11,650

Annual Take-Home Pay in West Virginia ( 78.82% ) – $43,350

Wisconsin ( $43,417 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 4.16% ) – $2,288

FICA ( 7.65% ) – $4,208

Total Wisconsin Income Taxes ( 21.06% ) – $11,583

Annual Take-Home Pay in Wisconsin ( 78.94% ) – $43,417

Wyoming ( $45,705 )

Federal Income Tax ( 9.25% ) – $5,088

State Income Tax ( 0.00% ) – $0

FICA ( 7.65% ) – $4,208

Total Wyoming Income Taxes ( 16.90% ) – $9,295

Annual Take-Home Pay in Wyoming ( 83.10% ) – $45,705

Summary

Here is a quick recap on how you can figure out how much $55,000 a year is hourly, monthly, biweekly, weekly, and daily.

When finding out how much $55,000 a year is per hour, you take $55,000 and divide it by 40 hours and 52 weeks.

When calculating the monthly income for 55,000 dollars a year, you take 55,000 dollars and divide it by 40 hours and 4 weeks.

To find out how much $55,000 a year is biweekly, take $55,000 and divide it by 40 hours and 2 weeks.

For weekly, you take $55,000 and divide it by 40 hours. We divide it by 40 hours because 40 hours a week is considered full-time.

And lastly, to calculate how much $55,000 a year is daily, you take $55,000 and divide it by 8 hours. Eight hours is used in this calculation because that amount of time represents the standard workday.

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