SOLUTION: Anita's gross monthly income is $6,500. If 16% is withheld for income tax, 6.5% for social security, and 2.5% for health insurance, what is her net monthly income?
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Question 546490: Anita's gross monthly income is $6,500. If 16% is withheld for income tax, 6.5% for social security, and 2.5% for health insurance, what is her net monthly income?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
$6500gross Income tax 16.00% 1040
Social security 6.50% 422.5
health 2.50% 162.5
1625
6500 - 1625 = 4875
Net = $4875
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