Ssume the following: gross salary = $120,000 employee contributions to 401-k = $12,000 employer match to 401-k = $5,000 flexible spending account savings = $2,000 health insurance premiums paid by employee = $3,000 health insurance paid directly by employer = $8,000 what is the w-2 taxable income?

$103,000

Explanation:

W-2 taxable income = gross salary - employee contributions to 401-K - flexible spending account savings - health insurance paid by employee

W-2 taxable income = $120,000 - $12,000 - $2,000 - $3,000 = $103,000

Form W-2 records all the employee's taxable income including wages, salary, tips, bonuses, and other taxable compensation. It also includes all the deductibles that employees can make including 401-K contributions, health premiums and flexible spending accounts.

answer; /// i believe the correct answer to the above question is(200 pounds); /good luck