Question

If you have 13% withheld for federal taxes, 9% for state taxes, and FICA is 7.65%, how much are your involuntary withholdings in all if your gross pay was $2,785.00 and your net income was $1,794.23?

Answer 1

The involuntary withholdings is $825.8 .

Explanation:

As given

Gross pay was $2,785.00 .

If you have 13% withheld for federal taxes .

13% is written in the decimal form .

`= (13)/(100)`

= 0.13

Federal tax = 0.13 × Gross pay

= 0.13 × 2785

= $ 362.05

As given

9% for state taxes .

9% is written in the decimal form

`= (9)/(100)`

= 0.09

State tax = 0.09 × Gross pay

= 0.09 × 2785

= $ 250.65

As given

FICA is 7.65% .

7.65 % is written in the decimal form .

`= (7.65)/(100)`

= 0.0765

FICA tax = 0.0765 × Gross pay

= 0.0765 × 2785

= $ 213.1 (Approx)

Thus

Involuntary withholdings = Federal tax + State tax + FICA tax

Putting all the values in the above

= $ 362.05 + $ 250.65 + $ 213.1 (Approx)

= $ 825.8

Therefore the involuntary withholdings is $825.8 .