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    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
     
    #1

    Oct 23, 2007, 10:07 PM
    Take home pay
    Kim Scott is a waiter at Denny's. In her forst weekly pay in March she earned 120.00 for the 40 hours she worked. In addition, she reports her tips for February to her employer(450), and the employer withholds the appropriate taxes for the tips from this first pay in March.

    Calculate her take home pay assuming the employers withheld federal income tax (wage bracket, married 2 allowance), social security taxes and state income tax(2%).

    The wage bracket show for 120 $0
    450 $18.00

    The answer suppose to be 33.99

    I have did this a hundred ways and I can get the answer.
    Duane in Japan's Avatar
    Duane in Japan Posts: 282, Reputation: 8
    Full Member
     
    #2

    Oct 24, 2007, 09:11 AM
    try 570 dollars minus 15% ($80) in taxes, the entire amount gets taxed, 15% is low.
    570 minus 80 (tax) minus 450 (tips) = 40 for a paycheck, somewhere in that range.
    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
     
    #3

    Oct 24, 2007, 08:52 PM
    Quote Originally Posted by Duane in Japan
    try 570 dollars minus 15% ($80) in taxes, the entire amount gets taxed, 15% is low.
    570 minus 80 (tax) minus 450 (tips) = 40 for a paycheck, somewhere in that range.

    When I did this my answer don't come out to be 33.99.

    This is what I did

    570 * 6.2 %
    570* 1.45%
    570* 2%
    570*2%
    Wage bracket show 31.00

    I get 97.41

    So what did I do wrong

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