I don't get when to use the 7.65% and then the 1.45%
How do you calculate the following below...given:
number of hours worked-952
Hourly pay- $120.50
______________________________
A. Gross pay for the year
B. FICA Taxes
C. Federal Income Tax
D. Net Pay (A-B-C=_ ) right?
Question 2: (Use 1.45%...? I don't get this)
Number of hours worked-2,200
Hourly Pay- $72.12
A. Gross pay for the year
B. FICA Taxes
C. Federal Income Tax
D. Net Pay (A-B-C=_)
1 answer
Isn't the gross pay for the year = number of hours worked (times*) hourly pay? ... If so, I get that part. I am not sure to do the others though...?
1 answer