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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!

Respuesta :

Aliwohaish12
Hi there:)

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

Hope it helps
ashishdwivedilVT

The net income after travel expenses and considering the deductions is $75.9352.

Wage per hour = $8.35

Wage for 16 hours = 8.35*16 = $133.6

Total deductions = 7.65 + 9.15 + 7.5 = 24.3%

What is the percentage?

The percentage is the value per hundred.

So, the amount of deductions = 133.6*24.3/100 = $32.4648

Travel expanses in 4 days = 6.30*4 = $25.20

So the net income = Wage for 16 hours -( amount of deductions + travel expenses in 4 days)

Net income = 133.6-(32.4648+25.20)

Net income =$75.9352

So, net income after travel expenses =$75.9352

Hence, the net income after travel expenses and considering the deductions is $75.9352.

To get more about percentages visit:

https://brainly.com/question/24304697

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