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19 September, 17:32

Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March.

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  1. 19 September, 17:50
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    If we calculate the net take home pay and we assume the employer withheld federal income tax (wage-bracket, married, 2 allowances), social security taxes, and state income tax (2%)

    Married at least $500 but not more than $510 $21

    Social Security at 4.2% $21

    State income tax at 2% $10

    Total taxes: $52

    Total net take-home pay: $598
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