Question
Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked.
Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, married, 2 allowances), social security taxes, and state income tax (2%). Enter deductions beginning with a minus sign (-). Click here to access the Wage-Bracket Method Tables. Gross pay $ 300.00 Federal income tax -7 Social security taxes - OASDI -49.60 Social security taxes - HI -11.60 State income tax -16.00 Net pay $ 165.80
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