Asked by Janell Kallander on Jun 09, 2024
Verified
A monthly payroll register shows that Sean Dougan had total wages of $3,580. He had deductions of $273.87 for FICA tax, $335.50 for federal income tax, and $25 for medical insurance. Compute Dougan's net pay for the month.
Net Pay
The amount of money an employee takes home after deductions like taxes and retirement contributions have been subtracted.
FICA Tax
A mandatory tax used to fund the United States Social Security and Medicare programs, deducted from the wages of employees.
Federal Income Tax
A tax levied by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
- Figure out the net pay after reducing gross earnings by taxes and various other withholdings.
Verified Answer
Learning Objectives
- Figure out the net pay after reducing gross earnings by taxes and various other withholdings.
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