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12 May, 02:07

g George's gross pay for the week is $800. George's deduction for federal income tax is based on a rate of 15%. He has a weekly medical insurance deduction of $50. His yearly pay is under the limit for OASDI. His FICA Social Security rate is 6.2% and his FICA Medicare rate is 1.45%. What is the amount of George's net pay?

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  1. 12 May, 05:03
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    The amount of George's net pay is $568.8 per week.

    Explanation:

    Because George's yearly pay is under the limit for OASDI, he don't bear the income tax either.

    Rate Amount

    Gross pay $800.0

    Personal deduction 15% $120.0

    Medical insurance deduction $50.0

    FICA Social Security 6.20% $49.6

    FICA Medicare 1.45% $11.6

    Income Before Tax $568.8

    Taxation 0% $0

    Net Pay $568.8
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Home » Business » g George's gross pay for the week is $800. George's deduction for federal income tax is based on a rate of 15%. He has a weekly medical insurance deduction of $50. His yearly pay is under the limit for OASDI. His FICA Social Security rate is 6.
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