Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2,500
Question:
Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2,500 salary biweekly, subject to federal income tax (use the wagebracket method) in Appendix C and FICA taxes, and have no other deductions from their pay. They have a state tax rate of 3 percent. If they choose to participate in the cafeteria plan, the deduction for the pay period is $100; otherwise, there is no deduction for the cafeteria plan. The cafeteria plan qualifies under Section 125. You do not need to complete the number of hours. Additional information for Eve: Box 2 is not checked, and the dependents are under 17.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
Question Posted: