Kenneth Inverness's weekly gross earnings for the week ending December 18 were $3,440, and his federal income tax withholding was $653.6. Prior to this week, Inverness had earned $98,000 for the year. Assuming the social security rate is 6% on the first $100,000 of annual earnings and Medicare is 1.5% of all earnings, what is Inverness's net pay?

Answer rating: 100% (QA)

Kenneth Inverness Net Earning Gross Earning prior to Dec 18 week Gross Earning for Dec 18 ... View the full answer