Question

You are paid $8.50/hr at your part-time job. Your deductions are FICA (7.65%), federal tax withholding (9.15%), and state tax withholding (7.5%). Your travel expenses are $6.00 per day worked. You work 16 hours over a 4-day period of time. What is your net income after travel expenses?,

Answer 1

$8.50/hr multiplied by 16 hours worked equals $136. $136 minus (7.65%)(136) equals $125.60. $125.60 minus (9.15%)(136) equals $113.16. Travel expenses of $6.00 multiplied by 4 equals $24. $113.16 minus 24 equals $89.16 net income.