Respuesta :
Ryan's actual or net pay is $65,334.
What is tax?
A government agency, whether local, regional, or federal, must collect taxes from citizens and companies. Government programs like Social Security and Medicare, as well as public facilities and services like roads and schools, are all funded through tax dollars.
In economics, taxes are paid by whoever suffers the burden of the tax, whether this is the entity being taxed, such a business, or the consumers who will ultimately purchase the goods made by the business. From an accounting perspective, taxes such as payroll taxes, federal and state income taxes, and sales taxes should be taken into account.
Income taxes are levied on money received by a taxpayer in the United States and many other nations across the world. The funds may originate from payments for goods and services, salary income, capital gains from rising investments, dividends or interest received as supplementary income, and so forth.
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The complete question is,
Ryan Seary works at US Airways and earned $71,000 last year before tax deductions. From Ryan’s total earnings, his company subtracted $1,150 for federal income taxes, $3,666 for Social Security, and $850 for Medicare taxes. What was Ryan's actual, or net, pay for the year?
