Ginny Jones receives $650 gross salary biweekly. Her income tax rate is 15%. Her group health plan contribution is $24.50 per pay period. She belongs to the company retirement plan, to which she contributes 6.5% of her earnings. She is also covered under Social Security benefits. Her current contribution is 7.65%.

If these items are all her deductions, what is her take-home pay per period? $

Ginny gets a $55 raise per pay period. If her health plan is unchanged, how much of the raise will she have to take home? $

  1. 👍
  2. 👎
  3. 👁
  1. 650 * 0.15 = _____ income tax
    650 * 0.065 = ______ retirement
    650 * 0.0765 = ______ Social Security

    Add those three figures to 24.50. Subtract from 650 to find her take home pay.

    1. 👍
    2. 👎
    Ms. Sue
  2. 97.5
    + 49.73
    189.48 + 24.50 = 213.48 (650 - 213.48= 436.52) <<<< ANSWER ! Am I correct???

    1. 👍
    2. 👎
  3. 436.02

    1. 👍
    2. 👎
  4. Thank you so much

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. personal finance

    A. The amount of an employee's income that an employer sends directly to the federal, state, or local tax authority B. Taxes, insurance, and saving plans deducted from a paycheck C. Provides a summary of the payroll information

  2. Accounting

    The income tax rate is 30% on current and is payable in the first quarter of 2014. The pretax income before the preceding adjusting entries is $6,800. The accounts are; Income tax expense Income tax payable. I do not understand

  3. Math

    3. The reported wages are realized income or gross income? Neither Realized Income Gross Income 4. You are looking at your W2 and see that your local wages were $40,000 and the amount of local tax withheld was $600. What

  4. finance math

    A single person earns a gross biweekly salary of $780 and claims 6 exemptions. What is the person's net pay? a. It is the same as the gross pay. b. It is $11 more than the gross pay. c. It is $11 less than the gross pay. d. It is

  1. math

    3. The gross income of David Vaughn is $785 per week. His deductions are $42.25, FICA tax; $90.33, income tax; 2% state tax; 1% city tax; and 3% retirement fund. What is her net income for one week? A. $675.32 B. $628.77 [C.

  2. Economics

    Suppose that the Government runs a pension fund to which all workers must contribute. The employee contribution rate is 6.2 percent on the first $84,900 of income. All income in excess of $84,900 is not taxed for pension purposes.

  3. Math

    Please match the following 3 terms to their definitions. Deduction Taxable Income Tax Credit The amount of income used to calculate how much tax an individual owes the government. (Taxable Income) Any item or expenditure

  4. Business

    Which of the following is not true about you adjusted gross income? 1- income minus deductions 2-income plus deductions 3- determines if your eligible for additional tax breaks 4- gross income minus deductions my answer is 2

  1. Economics

    Suppose that a family's tax liability equaled its income multiplied by one-half minus $10,000. Under this system, some families would pay taxes to the government, and some families would receive money from the government through a

  2. Tax

    Anyone knows what's the tax rate in Minnesota? I don't know the name of the tax, but I meant the tax you got taken away from your check when you work. Income tax? I web site with various tax rates corresponding to different level

  3. Mathematics

    A salary earner is allowed 12% of his income tax free and pays 25% on the remainder. If his tax amounts to #50,000. Calculate his income


    Tax Rates, latesha, a single taxpayer, had the following income and deductions for the year 2009. INCOME Salary $60,000 Business Income $25,000 Intrest income(bonds)$10,000 Tax-exempt bond interes $ 5,000 ________ TOTAL INCOME

You can view more similar questions or ask a new question.