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ziro4ka [17]
3 years ago
5

If you have 12% withheld for federal taxes, 7% for state taxes, and FICA is 7.65%, how much are your involuntary withholdings in

all of your gross pay was was $1,375 and your net income was$725.00
Mathematics
1 answer:
grandymaker [24]3 years ago
6 0

Answer:

Step-by-step explanation:

The required withholding amounts are ...

  • federal tax = 0.12×$1375 = $165.00
  • state taxes = 0.07×$1375 = $96.25
  • FICA = 0.0765×$1375 = $105.19

So, the total involuntary withholding is ...

  $165.00 +96.25 +105.19 = $366.44

We want to find the voluntary withholding such that ...

  (gross pay) - (involuntary withholding) - (voluntary withholding) = (net pay)

Adding (voluntary withholding - net pay) to both sides of this equation, we get ...

  (gross pay) - (involuntary withholding) - (net pay) = (voluntary withholding)

Filling in the values we know gives ...

  $1375 -366.44 -725 = voluntary withholding = $283.56

Your voluntary withholding is $283.56.

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