Find the deductions and the net pay. Social Security is 6.2% of the first $97,500. Medicare is 1.45% of all income. Use the tax tables on pages A2-A5 for federal tax. For Problems 4&5, the state tax is 2% of gross pay, and the local tax is 1.5% of gross pay.
4.) Terence Hall is single and claims 1 allowance. His gross pay is $598.00, Medical $15.50, Union Dues $14.00, others $6.00
Please calculate NET PAY if FIT = $65, SS TAX = $37.08, MEDICARE = $8.67, STATE = $11.96, LOCAL = $8.97
5.) Julia DeFoe, an interior decorator for Custom Design, is married and claims 1 allowance. Each week she pays $38 for medical insurance, $18 for union dues, and $20 for a stock option plan.
Please calculate State Tax and Net Pay if FIT = $21, SS TAX = $26.35, MEDICARE = $6.16 & LOCAL TAX = $6.38