Assuming a 7.65% FICA tax rate on the first $117,000 in wages, 1.45% on amounts over $117,000,

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Assuming a 7.65% FICA tax rate on the first $117,000 in wages, 1.45% on amounts over $117,000, and a 20% federal income tax rate on all wages, what would be the net pay of a employee for the year if you earned $180,000 for the year?

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Apr 11, 2023 06:53 AM

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Assuming a 7.65% FICA tax rate on the first $117,000 in wages, 1.45% on amounts over $117,000,

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Income Tax Fundamentals 2013

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