If you have 13% withheld for federal taxes, 9% for state taxes, and FICA is 7.65%, how much are your involuntary withholdings in all if your gross pay was $2,785.00 and your net income was $1,794.23?

Question

anonymous · Answer

Sorry, I keep crashing! Are you able to help, @dinopyte ?

anonymous · Answer

I'm sorry, my wifi keeps crashing! Give me a sec.

anonymous · Answer

2785*.13=withholdings for federal taxes=362.05
2785*.09=withholdings for state taxes=250.65
2785*.0765=FICA withholdings=213.0525


Add those three numbers up. (825.7525, round to 825.75).

anonymous · Answer

I'm not sure that the net income is relevant to this question. Maybe I'm missing something?  If you were to include all withholdings (involuntary and voluntary) then you could just subtract the net from the gross. But if you're just calculating your involuntary withholdings then you only need those percentages and the gross.

anonymous · Answer

Yeah, that's what I was super confused about! I didn't know if your net income was all of your involuntary withholdings deducted from your gross pay -- so I couldn't figure out if I just needed to deduct the net income from the gross pay or if I needed to use the FICA and State/Federal withholdings instead.

anonymous · Answer

I think I'm right. Gross-net=990.77, so a 165.02 difference from the involuntary withholdings calculation. There are several things that 165.02 could account for; voluntary withholdings such insurance, retirement, etc.