Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An employee has gross earnings of $1,800 with withholdings of 6.2% FICA-OASDI, 1.45% FICA-Medicare, $50 for federal income tax and $30 for state income tax.

An employee has gross earnings of $1,800 with withholdings of 6.2% FICA-OASDI, 1.45% FICA-Medicare, $50 for federal income tax and $30 for state income tax. How much is the net pay?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the net pay we need to subtract the withholdin... blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students also viewed these Finance questions

Question

How are the investment decision and financing decision related?

Answered: 1 week ago