You get a part time job earning $8.60/hr. Tips are $3.25/hr on average. Deductio

Question

You get a part time job earning $8.60/hr. Tips are $3.25/hr on average. Deductions are FICA (7.6$), federal tax withholding (11.2%), and state tax withholding (7.45). You work for 15 hours. What is your gross base pay? You are paid $9.25/hr at your part time job. You work 12 hours per week. You are considering working a part time job for $5.90/hr that also pays tips. You will earn an average of $4.20/hr in tips. If you work the same 12 hours at the new job, how much more is your total gross income including tips compared to your old job? You are paid $8.35/hr at your part-time job Your deductions are FICA (7.65%), federal tax withholding (9.15%), and state tax withholding (7.5%). Your travel expenses ate $6.30 per day worked. You work 16 hours over a 4-day period of tune. What is your net income after travel expenses? Your friends known you enjoy music, so they you a gift card for $20.00 to a popular online music provider. Each download costs $1.39. What is the balance on the gift card if you download as many songs as possible without going over the gift card limit?

Explanation / Answer

Net income after travel

= Revenue-Cost

= 16*4*(8.35*(1-.0765 -.0915-.075)-6.30)

=$1.3408

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