Question
Compute the net pay for Mehdi Gamal and Deion Green. Assume that they are paid biweekly, subject to federal income tax (use the wage-bracket method)
Compute the net pay for Mehdi Gamal and Deion Green. Assume that they are paid biweekly, subject to federal income tax (use the wage-bracket method) and FICA taxes, and have no other deductions from their pay. Mehdis deduction if he chooses to participate in the cafeteria plan is $75; Deions is $250. There is no deduction if they do not participate in the cafeteria plan. The cafeteria plan qualifies for Section 125. There are no state income taxes, and you do not need to complete the number of hours. All W-4s were received in 2021, and there is no information for Step 4. Deion did check the box in Step 2. Use the Wage-Bracket Method Tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.)
Name | Filling Status | Dependents | Period Wage | Number of Regular Hours | Number of Overtime hours | Number of Holiday Hours | Commissions | Gross Earnings | Section 125 | Taxable Wages for Federal or State W/H | Taxable Wages for FICA |
Mehdi Gamal - no cafeteria plan | S | None | $1,200.00 | ||||||||
Mehdi Gamal - cafeteria plan | S | None | $1,200.00 | ||||||||
Mehdi Gamal - no cafeteria plan | MJ | Two<17, One Other | $1,705.00 | ||||||||
Mehdi Gamal - cafeteria plan | MJ | Two<17, One Other | $1,705.00 | ||||||||
Name | Gross Earnings | Taxable Wages for Federal or State W/H | Taxable Wages for FICA | Federal W/H | Social Security Tax | Medicare W/H tax | State W/H Tax | Net Pay | |||
Mehdi Gamal - no cafeteria plan | |||||||||||
Mehdi Gamal - cafeteria plan | |||||||||||
Mehdi Gamal - no cafeteria plan | |||||||||||
Mehdi Gamal - cafeteria plan |
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