1 If your health insurance premiums are paid entirely by your employer or the government, you cannot deduct the cost. 2  If you have health insurance through your employer and your share of the premium is deducted from your paycheck pre-tax, you cannot deduct the cost because the premiums were tax-free already.
For example, an employee earning minimum wage and working a full 40 hours per week currently takes home a gross pay of $290 per week. In theory, a $1.75 minimum-wage hike would increase that employeeâs gross pay to $360 per week. However, thatâs only if that employee continues to work 40 hours per week, a scenario that will become increasingly less realistic under Obamacare, which gives employers a huge incentive to cut worker hours.
To calculate the hourly wage for a salary employee: 2080 is the total available hours for a full-time (40 hours/week). If the employee does not work 40 hours/week, calculate the number of hours the employee works per week, and multiply by 52. i.e., # of hours/week x 52 = total available annually.1  Salary amount x pay frequency = annual salary.f the employee does not work 40 hours/week, calculate the number of hours the employee works per week, and multiply by 52. i.e., # of hours/week x 52 = total available annually. 1  Salary amount x pay frequency = annual salary.