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What is Take home pay is equal to?
gross income - (required deductions + optional deductions)
Sam's take-home pay is 743. His deductions are 25 for OASDI 5 for Medicare and 27 for income tax. What is his gross pay?
You add the deductions to the take home pay to get the gross pay. $743 + $25 + $5 + $27 = $800.00
Net to Gross Paycheck Calculator?
Net to Gross Paycheck Calculator This calculator helps you determine the gross paycheck needed to provide a required net amount. First, enter the net paycheck you require. Then enter your current payroll information and deductions. We will then calculate the gross pay amount required to achieve your net paycheck. This calculator has been updated to use the new withholding schedules for 2010.
How do you calculate the hourly rate for a salaried employee based on a 40 hour work week?
Take to gross weekly earnings and divide by 40 if you have the monthly salary (exculding deductions as above ) divide the monthly gross income by 160 (which is 40 hours per week times 4)
The answers to the consumer math part 2 exam for penn foster?
The gross income of Ginger Hughes is $215 per week. Her deductions are: $15.16, FICA tax; $29.33, income tax; 2% state tax; 1% city tax; and 3% retirement fund. What is her net income?
What all deductions are needed for gross salary?
Gross salary means the total salary BEFORE any deductions are taken, so the answer is no deductions.
When you earn a paycheck is it important to know how to compute the deductions to form your gross pay?
Your GROSS pay is before any deductions. Compute deductions, subtract them from your gross pay, and get your NET pay- that is how much you get to take home.
What does gross price and net price mean?
The gross price would be the price before deductions. The net price is after deductions.
What is the difference between above the line deductions and below the line deductions?
Above the line deductions are subtracted from a person's gross income to calculate adjusted gross income, while below the line deductions are subtracted from adjusted gross income to determine taxable income.
What is the formula for taxable income?
Gross Income - Above the Line Deductions = Adjusted Gross Income - (Deductions +Exemptions)= Taxable Income
What is the formula for calculating taxable income?
Gross Income - Above the Line Deductions = Adjusted Gross Income - (Deductions +Exemptions)= Taxable Income
What is your gross income before deductions for taxes?
Your gross income is the total amount of money you earn before any deductions are taken out for taxes.
This term refers to the total amount without deductions?
gross pay
What is Take home pay is equal to?
gross income - (required deductions + optional deductions)
How do you solve monthly gross pay?
Net pay = gross pay - deductions. Or in percentages: Net pay = gross pay x (1 - percentage of deductions / 100) If you have any two of these, you can solve the third. For example, in the last formula: gross pay = net pay / (1 - percentage of deductions / 100)
What do you call income before deductions?
Gross income.
What term refers to a total amount with deductions?
Gross
