You are paid $8.35/hr at your part time job. your deductions are FICA (7.65%), Federal tax withholding (9.15%), & state tax
withholding (7.5%). your travel expense are $6.30 per day worked. you work 16 hours over a 4-day period of time. what is your net income after travel expenses? Thanks in advance!
start off with the gross. 8.35×16=133.6 Total tax rate is 7.65+9.15+7.5=24.3% Tax 133.6×0.243=32.4648 Subtract the tax from gross 133.6−32.4648=101.1352 Deducte your expenses 101.1352−(6.30×4) =75.94 this is your net income
