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An employee earns $ 6 , 2 5 0 per month working for an employer. The Federal Insurance Contributions Act ( FICA ) tax rate
An employee earns $ per month working for an employer. The Federal Insurance Contributions Act FICA tax rate for Social Security is of the first $ earned each calendar year and the Federal Insurance Contributions Act FICA tax rate for Medicare is of all earnings. The current Federal Unemployment Taxes FUTA tax rate is and the State Unemployment Taxes SUTA tax rate is Both unemployment taxes are applied to the first $ of an employee's pay. The employee h in federal income taxes withheld. The employee has voluntary deductions for health insurance of $ and contributes $ to retirement plan each month. What is the amount of net pay for the employee for the month of January? Round your intermed calculations to two decimal places.
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