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Example 4-1 Carl Jamison, an employee for the Scharman School, belongs to a tax-deferred retirement plan to which he contributes 3 percent of his pay

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Example 4-1 Carl Jamison, an employee for the Scharman School, belongs to a tax-deferred retirement plan to which he contributes 3 percent of his pay which is matched by the school. His biweekly pay is $2,500. Because of the deferral (3% x $2,500 - $75), $2,425 is subject to federal income tax withholding. Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay, Whiteweiler contributes $50 each week to her company's 401(k) plan and has $20 put into her health savings account (nonqualified) each week. Her employer matches this $20 each week Determine Whiteweiler's take-home pay if she is married and daims 0 allowances (use the wage bracket method). Enter deductions beginning with a minus sign (-). Round your calculations and final answers to the nearest cent. Click here to access the Wage-Bracket Method Tables. Gross pay 930 HSA contributions -20 401(k) deductions -50 OASDI tax -57.66 HI tax -13.49 FIT -93 X Net pay

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