The gross income of Maurice Vaughn is $785 per week.His deductions are $42.25,FICA tax,$90.33,income tax,2% state tax,1% city tax and 3% retirement fund.what is his net income for one week
Accepted Solution
A:
gross income : 785 per week
deductions are : FICA : 42.25 income tax : 90.33 2% state tax : 0.02(785) = 15.70 1% city tax : 0.01(785) = 7.85 3% retirement : 0.03(785) = 23.55 total deductions are : 42.25+90.33+15.70+7.85+23.55 = 179.68
gross pay - deductions = net pay 785 - 179.68 = net pay 605.32 = net pay <====