If you have 12% withheld for federal taxes, 7% for state taxes, and FICA is 8%, how much are your involuntary withholdings in all if your gross pay was $1,375?
First, we need to calculate the amount withheld for federal taxes:
$1,375 x 0.12 = $165
Next, we calculate the amount withheld for state taxes:
$1,375 x 0.07 = $96.25
Then, we calculate the amount withheld for FICA:
$1,375 x 0.08 = $110
Finally, we add up all the involuntary withholdings:
$165 + $96.25 + $110 = $371.25
Therefore, your involuntary withholdings in all would be $371.25 if your gross pay was $1,375.
To calculate the total involuntary withholdings, you would first find the amount of federal taxes withheld, then the amount of state taxes withheld, and finally the amount of FICA withheld.
First, calculate the federal taxes withheld:
Federal taxes withheld = (Gross pay) x (Federal tax withholding rate)
Federal taxes withheld = $1,375 x 0.12 = $165
Next, calculate the state taxes withheld:
State taxes withheld = (Gross pay) x (State tax withholding rate)
State taxes withheld = $1,375 x 0.07 = $96.25
Finally, calculate the FICA withholdings:
FICA withholdings = (Gross pay) x (FICA withholding rate)
FICA withholdings = $1,375 x 0.08 = $110
Add up all the withholdings to find the total involuntary withholdings:
Total involuntary withholdings = Federal taxes withheld + State taxes withheld + FICA withholdings
Total involuntary withholdings = $165 + $96.25 + $110 = $371.25
Therefore, the total involuntary withholdings for a gross pay of $1,375 are $371.25.
To calculate the total involuntary withholdings, you need to add up the percentages of federal taxes, state taxes, and FICA.
First, calculate the amount withheld for federal taxes:
Federal tax withheld = (12% / 100) * gross pay
For a gross pay of $1,375:
Federal tax withheld = (12 / 100) * 1375
= 0.12 * 1375
= $165
Next, calculate the amount withheld for state taxes:
State tax withheld = (7% / 100) * gross pay
For a gross pay of $1,375:
State tax withheld = (7 / 100) * 1375
= 0.07 * 1375
= $96.25
Finally, calculate the amount withheld for FICA:
FICA withheld = (8% / 100) * gross pay
For a gross pay of $1,375:
FICA withheld = (8 / 100) * 1375
= 0.08 * 1375
= $110
To find the total involuntary withholdings, add up the amounts withheld for federal taxes, state taxes, and FICA:
Total withholdings = Federal tax withheld + State tax withheld + FICA withheld
= $165 + $96.25 + $110
= $371.25
Therefore, the total involuntary withholdings for a gross pay of $1,375, with 12% withheld for federal taxes, 7% for state taxes, and 8% for FICA, would be $371.25.