At the end of the first pay period of the year, Sofia earned $4,300 of salary. Withholdings from Sofia’s salary include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $506 of federal income taxes, $166 of medical insurance deductions, and $16 of life insurance deductions. Compute Sofia’s net pay for this first pay period. (Round your intermediate and final answers to 2 decimal places.)

Sammy's employer pays for 40% of her annual health insurance premium of $5,150.00. Sammy pays the remaining balance by having it deducted in equal amounts from her 26 paychecks throughout the calendar year. How much will Sammy have deducted from each paycheck?

Hank earns​ $18.50 per hour with timeandahalf for hours in excess of 40 per week. He worked 44 hours at his job during the first week of​ March, 2024. Hank pays income taxes at​ 15% and​ 7.65% for OASDI and Medicare. All of his income is taxable under FICA. Determine​ Hank's net pay for the week.​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ cent.)

Cory Hunter's earnings are subject to deductions for Social Security, Medicare, and FIT. To date his cumulative earnings are $110,000. This week Cory earns $2,000. Cory, who is married, is paid weekly and files jointly. Assume the Social Security rate is 6.2% on a maximum of $ 142,800 and 1.45% for Medicare. Use percentage method to calculate FIT. His net pay for the week is ? A $1, 956.17 B $2, 036.60 C $1, 672.60 D $2,031.70

At the end of the first pay period of the year, Sofia earned $5,100 of salary. Withholdings from Sofia's salary include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $522 of federal income taxes, $182 of medical insurance deductions, and $32 of life insurance deductions. Compute Sofia's net pay for this first pay period. (Round your intermediate and final answers to 2 decimal places.) Gross pay FICA Social Security FICA Medicare Federal income taxes Medical insurance deduction Life insurance deduction Total deductions Net pay

Mary Matthews made $1,150 during a biweekly pay period. Only social security (fully taxable) and federal income taxes attach to her pay. Matthews contributes $100 from each biweekly pay to her company's 401k. Determine Matthews' take home pay if she is married filing jointly. (Use wage bracket method) Round your answer to two decimal places.    please use 2022 tax rate tables

Thomas Fortuna (married; 4 federal withholding allowances) earned weekly gross pay of $745. For each period, he makes a 401(k) retirement plan contribution of 10% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ 2:Barbara Houlihan (single; 1 federal withholding allowance) earned daily gross pay of $320. For each period, she makes a 401(k) contribution of 12% of gross pay. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $   3:Marcus Xavier (married; 5 federal withholding allowances) earned monthly gross pay of $3,650. He participates in a flexible spending account, to which he contributes $200 during the period. Using wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $

Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and the amount of federal income tax withholding are as follows. Federal Gross Income Employee Filing Status Allowances Income Withholding Sarah $10,000 $962 $1,362 Joe $8,000 $7,000 Kevin $357 Lemur's payroll deductions include FICA Social Security at 6.2%, FICA Medicare at 1.45%, FUTA at 0.6%, SUTA at 5.4%, federal income tax as previously shown, state income tax at 5% of gross pay, and 401(k) employee contributions at 2% of gross pay. Record the entry for the employee payroll on December 31. If required, round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. Dec. 31 Married Single Single 4 1

Find the net pay for each of the following employees after FICA, Medicare, federal withholding tax, state disability insurance, and other deductions have been taken out. Assume that none has earned over $115,000 so far this year. Assume a FICA rate of 6.2%, Medicare rate of 1.45%, and a state disability insurance rate of 1%. Use the percentage method of withholding. 13. Clarissa Karsten: $492.58 weekly earnings, 1 withholding 13. allowance, single, $25 in other deductions

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 9,038. The FICA tax for social security is 6.2% of the first $132,900 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,499.67. Her net pay for the month is: (Round your intermediate calculations to two decimal places.)