Given this information for 1:
The mean salary is $1,197 per week, $62,294 per year. Use the salary $62,294 to calculate the taxes or net pay (yearly or monthly).
1.
Deduct $150/month (calculate total for the year) for insurance. What will this total be ($758 , $1,800 , or $1,500)?
2.
Which of the following is not a required deduction?
(Federal Income Tax , FICA , or Roth IRA)
Salary for the year = $62294
1. Deduction per month =$150
Therefor, Total Deduction for the year = $150*12 Months
= $ 1800
2. Federal Income Tax shall not be allowed to take as a deduction because any of the Tax paid by us shall not be allowed as deduction.
We Can say that,
Total Taxable Income = $62294 - $1800
= $ 60494
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