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An employee works 50 hours (50-40 were overtime hours) during a workweek in December of 2015. He earns $9,500/month, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $109,700 during the year. He has requested that his employer withhold 13% of gross pay to contribute to a 403(b) plan. Calculate gross pay for the weekly pay period, then determine taxable income used to calculate federal income tax withholding, Social Security, and Medicare tax.
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An employee works 50 hours (50-40 were overtime hours) during a workweek in December of 2015. He ear...
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