Question
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
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 $40 put into her health savings account (nonqualified) each week. Her employer matches this $40 each week. Determine Whiteweiler's take-home pay if she is single.
As we go to press, the federal income tax rates for 2023 are being determined by budget talks in Washington, and are not available for publication. For this edition, the 2022 federal income tax tables for Manual Systems with Forms W-4 from 2020 or Later with Standard Withholding and 2022 FICA rates have been used.
Click here to access the Wage-Bracket Method Tables. Gross pay HSA contributions 401( k ) deductions OASDI tax HI tax FIT Net payStep by Step Solution
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