Maxwell McFarland's weekly gross earnings for the week ending December 18 were $880, and his federal income
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Question:
Maxwell McFarland's weekly gross earnings for the week ending December 18 were $880, and his federal income tax withholding was $176. Prior to this week, McFarland had earned $99,500 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 McFarland'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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