Samantha makes $28.00 per hour and is paid for a 40 hour work week. She pays 15% federal income tax, 6.2% social security, 1.45% medicare, and she lives in a state with no state income tax. She pays 3% of her gross income for health insurance and pays $25.00 per month for life insurance. What is her gross annual salary? What is her gross monthly salary? What is her net monthly salary?

Samantha makes $28.00 per hour and is paid for a 40 hour work week. She pays 15% federal income tax, 6.2% social security, 1.45% medicare, and she lives in a state with no state income tax. She pays 3% of her gross income for health insurance and pays $25.00 per month for life insurance. What is her gross annual salary? What is her gross monthly salary? What is her net monthly salary?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 13DQ

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