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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 matched

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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 matched by the school. His biweekly pay is $2,500. Because of the deferral (3% * $2,500 = $75), $2,425 is subject to federal income withholding Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 401(k) plan and has $25 put into her health savings account (nonqualified) each week. Her employer matches this $25 each week. Determine Whiteweller's take-home pay if she is single and claims 2 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 -25 401(k) deductions -100 OASDI tax -57.66 HI tax -13.49 FIT 78 X Net pay

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