Question

Barry's gross pay per pay period is $315.27. He has the following deductions: Social security tax 5.2%, Medicare tax 1.35%, and Federal withholding tax $89.21. What is the total tax amount he needs to pay for this period?

Answer 1

To calculate the total tax amount Barry needs to pay for this pay period, we need to calculate the amount for each tax deduction. The total tax amount Barry needs to pay for this period is $109.85.

Step-by-step explanation:

To calculate the total tax amount Barry needs to pay for this pay period, we need to calculate the amount for each tax deduction. To calculate the total tax amount Barry needs to pay for this pay period, we need to calculate the amount for each tax deduction. The total tax amount Barry needs to pay for this period is $109.85.

First, calculate the Social Security tax by multiplying Barry's gross pay by 5.2%: $315.27 * 0.052 = $16.3824.

Next, calculate the Medicare tax by multiplying his gross pay by 1.35%: $315.27 * 0.0135 = $4.2574.

Finally, add the Federal withholding tax of $89.21, the Social Security tax of $16.3824, and the Medicare tax of $4.2574 together: $89.21 + $16.3824 + $4.2574 = $109.8498.

Therefore, the total tax amount Barry needs to pay for this pay period is $109.85.