Question
Jim Moss, an employee of Jones International, worked 49 hours during the week of April 4th through 10. His rate of pay is $15/hr, and
Jim Moss, an employee of Jones International, worked 49 hours during the week of April 4th through 10. His rate of pay is $15/hr, and he receives time-a-half for work in excess of 40 hours per week. Jim is married and claims four allowances on his W-2 form. Jims YTD earnings before this pay period arte $7.600, and his wages are subject to the following deductions:
a. From above, caculate his Federal Income Tax (use Google to search tax schedule)
b. From above, caculate his Social Security tax at 6.2%, with wage limit of $113,700
c. From above, caculate his Medicare tax at 1.45%
d. Assuming the above fact from question a, b, c, and
Medical insurance premium (after-tax), $50
United Way contribution $10
Required: What will be his net pay for that period?
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