Assuming a FICA tax rate of 8% on the first $100,000 in wages, and a federal income tax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $120,000 for the year?

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asked Jul 10, 2021 101k views

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Assuming a FICA tax rate of 8% on the first $100,000 in wages, and a federal income tax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $120,000 for the year?

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Yonti asked

by Yonti

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Answer:

the answer is c

Step-by-step explanation:

Redjamjar answered Jul 15, 2021

by Redjamjar

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Joe Palucci earns $2,500 per PLEASE HELP!!! Joe earns $2,500 per month. Out of those wages, $266 in federal income taxes, $191.25 in FICA taxes, $120 in state income taxes, and $125 in health insurance

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