Will Brown, who pays weekly union dues of $3.00, earns $289 per week. His federal income tax is $39.13 and his FICA tax is 6.2%. He pays a 4% state income tax, a $15.00 annual city tax, and 2% of his pay to his retirement fund. What’s his net income for the week he pays the city tax?

Respuesta :

Earnings                          $289

Less: Union dues            $3
          Fed. Income Tax   $39.13
          FICA                      $17.92   (6.2% of $289 = 0.062 x $289 = $17.92)
          State Income tax   $11.56   (4% of $289 = 0.04 x $289 = $11.56)
          City tax                  $15.00
          Retirement fund    $5.78   (2% of $289 = 0.02 x $289 = $5.78)

Net Income = $196.61