Richard Gaziano is a manager for Health Care Inc. Health Care deducts Social Security Medicare Show more Richard Gaziano is a manager for Health Care Inc. Health Care deducts Social Security Medicare and FIT (by percentage method) from his earnings.
Assume a rate of 6.2% on $110100 for Social Security and 1.45% for Medicare. Before this payroll Richard is $1000 below the maximum level for Social Security earnings. Richard is married is paid weekly and claims 2 exemptions. What is Richards net pay for the week if he earns $1550? (Round your answer to the nearest cent.) Show less
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