Given this question-Cumulative earnings or Y-T-D earning for Billy Bob is $5872.53 for the week ending April
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Question:
Given this question-Cumulative earnings or Y-T-D earning for Billy Bob is $5872.53 for the week ending April 17 of the current year. Billy Bob is married with five dependents. Social security is 6.2% with a cap of $128,400 (according to the textbook); Medicare is 1.45% with no cap. Michigan's individual taxes are 4.25%. Moreover, Billy Bob pays 37.25 per week for medical coverage, $15.75 for dental and contributes $15.00 per week to US Savings Bonds.
Calculate Billy Bob's net pay.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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