Question

Maria will earn $38,750 this year. She is paid semi-monthly. 14% of her gross pay will be withheld for federal income tax, 3% for state income tax and 7.65% for Social Security and Medicare taxes. Calculate her net pay and how much she will pay in taxes each paycheck. a. Convert the Annual Pay to semimonthly Pay (24) b. How much money will she pay in taxes each paycheck? c. What is the Net Pay (take-home pay)?

Answer 1

Maria will earn $38,750 this year

Amount she earned = $38,750

She is paid semi-monthly. 14% of her gross pay will be withheld for federal income tax,

i.e 14% of 38750 spend on the federal income tax

`\begin{gathered} \text{ 14\% of 38750=}(14*38750)/(100) \\ \text{ 14\% of 38750 = 5425} \end{gathered}`

So, Amount paide