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 his net income for one week?
785 dollars = gross income per week Minus the following => 42.45 dollars fica tax => 90.33 dollars = income tax => 2% state tax which is equals to 15.7 dollars => 1% city tax which is equals to = 7.85 dollars => 3% retirement fund equals to = 23.55 dollars Total = 179.88 dollars => 785 dollars - 179.88 = 605.12 is his weekly net income.
