Assume your gross pay per pay period is $4,900 and you are in the 33 percent tax bracket. Calculate your net pay and spendable income if you save $490 per pay period in a tax-sheltered annuity. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Net Pay & Spendable Income Net pay Spendable income

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 31P
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Assume your gross pay per pay period is $4,900 and you are in the 33 percent tax bracket. Calculate your net pay and spendable
income if you save $490 per pay period in a tax-sheltered annuity. (Do not round intermediate calculations. Round your answers to
the nearest whole dollar.)
Net Pay & Spendable Income
Net pay
Spendable income
Transcribed Image Text:Assume your gross pay per pay period is $4,900 and you are in the 33 percent tax bracket. Calculate your net pay and spendable income if you save $490 per pay period in a tax-sheltered annuity. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Net Pay & Spendable Income Net pay Spendable income
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