Beau Brentley earned $60,000 from his job at Bridgestone Tires.He had 15% of his gross pay withheld for federal income taxes,6.2% withheld for FICA Social Security taxes,and 1.45% withheld for Medicare taxes.What was Beau's net pay?

Question

Quizplus · Accepted Answer

To find Beau's net pay, we need to subtract the total amount withheld for taxes from his gross pay:

Amount withheld for federal income taxes: 0.15 x $60,000 = $9,000 
Amount withheld for FICA Social Security taxes: 0.062 x $60,000 = $3,720 
Amount withheld for Medicare taxes: 0.0145 x $60,000 = $870

Total amount withheld for taxes: $9,000 + $3,720 + $870 = $13,590

Net pay = Gross pay - Total amount withheld for taxes 
Net pay = $60,000 - $13,590 = $46,410

Therefore, the correct answer is B) $46,410.

Beau Brentley Earned $60,000 from His Job at Bridgestone Tires