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May 24, 2015

Homework Help: Payroll Accounting

Posted by Shirley on Thursday, March 20, 2014 at 2:45pm.

Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 401(k) plan and has $25 put into her health savings account (nonqualified) each week. Her employer matches this $25 each week. Determine Whiteweiler's take-home pay if she is single and claims 2 allowances (use the wage-bracket method). Round your answers to the nearest cent.
Click here to access the Wage-Bracket Method Tables.
Gross pay $
HSA contributions
401(k) deductions
OASDI tax
HI tax
FIT
Net pay $

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