Karen and Katie are looking at the company?s health care options and trying to determine how much
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Karen and Katie are looking at the company?s health care options and trying to determine how much their net pay will decrease if they sign up for the qualified cafeteria plan offered by the company. Karen, a married woman with four exemptions, earns $2,000 per biweekly payroll. Katie, a single woman with one exemption, also earns $2,000 per biweekly payroll. The biweekly employee contribution to health care that would be subject to the cafeteria plan is $100. Compute the net pay for Karen and Katie. Assume that they are subject to Federal income tax (using the wage-bracket method) and FICA taxes and have no other deductions from their pay.
Related Book For
Payroll Accounting 2016
ISBN: 978-1259572197
2nd edition
Authors: Jeanette Landin, Paulette Schirmer
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