The president of the local supermarket earns $675 a week, is married and has one withholding allowance. He pays $12.45 for insurance, but also taxes, Social Security (6.2 percent of earnings) and Medicare (1.45 percent of earnings) are deducted. He lives in Florida where there is no state income tax. He pays 5 percent for his retirement. Federal tax for 0 deductions=$63; 1 deduction=$54; 2 deductions=$44. Compute his net pay rounding up.

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The president of the local supermarket earns $675 a week, is married and has one withholding allowance. He pays $12.45 for insurance, but also taxes, Social Security (6.2 percent of earnings) and Medicare (1.45 percent of earnings) are deducted. He lives in Florida where there is no state income tax. He pays 5 percent for his retirement. Federal tax for 0 deductions=$63; 1 deduction=$54; 2 deductions=$44. Compute his net pay rounding up.






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