Paycheck earned $1,500 per month as the manager of a recording studio. Mike has 25% of his earnings withheld for federal income taxes. There are no other amounts withheld except for those required by the federal government. What are the other amounts that must be deducted from Mike earnings? Calculate the net amount Mike will receive on his next paycheck. (Round to the nearest cent.)

What are the other federal deductions required to be withheld from

MikeMike's

Paycheck? Calculate the withholdings and the net earnings. (Assume the social security tax rate is 6.2% and the medicare tax rate is 1.45%.)

Earnings
Less:
	Federal income tax
Net earnings