tax year ending 2015 Julie Whiteweiler made $786 this week. Only social security
ID: 2340131 • Letter: T
Question
tax year ending 2015
Julie Whiteweiler made $786 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $76 each week to her company's 401(k) plan and has $50 put into her health savings account (nonqualified) each week. Her employer matches this $50 each week. Determine Whiteweiler's take-home pay if she is married and claims 2 allowances (use the wage-bracket method) Enter deductions beginning with a minus sign (). Round your calculations and final answers to the nearest cent. Click here to access the Wage-Bracket Method Tables. Gross pay HSA contributions 401(k) deductions OASDI tax HI tax FIT Net payExplanation / Answer
Gross pay.............................................$ 786.00
HSA contributions..................................(50.00)
401(k) deductions..................................(76.00)
OASDI tax ((786-76)*6.2%).....................(44.02)
HI tax ((786-76)*1.45%)..........................(10.30)
FIT (taxable $710.00).............................(74.42)
Net pay...................................................$531.26
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