Rhonda Brennan found her first job after graduating from college through the cla
ID: 2775575 • Letter: R
Question
Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted when the offer came through at $31.00 per hour. She completed her W-4 stating that she is married with a child and claims an allowance of 3. Her company will pay her biweekly for 80 hours (assume a tax rate of 6.2% on $110,100 for Social Security and 1.45% for Medicare).
Calculate her take home pay for her first check. Using the following tables:
TABLE 7.1 Payroll Period One Withholding Percentage method income tax withholding allowances Allowance Weekly Biweekly $73.08 146.15 158.33 316.67 950.00 1,900.00 3,800.00 Daily or miscellaneous (each day of the payroll period) 14.62Explanation / Answer
No of Hours 80.00 Rate per Hour $31.00 Gross Pay $2,480.00 Amount to withhold/Deducted W.holding Allowance $146.15 Income Tax $171.47 Social Security (6.2%) $153.76 MediCare 1.45% $35.96 $507.34 Net take home - Pay Check $1,972.66 Tax working Gross Pay $2,480.00 Withholding Allowance (BiWeekly) $146.15 Net Pay amount for tax working $2,333.85 pay falls in the tax Range $981 to $3031 : $66.9+ 15% that exceeds $981 Upper limit $3,031.00 Amount exceeds the limit $697.15 Total Tax Payable Min Tax $66.90 15% on $949.15 $104.57 $171.47
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