Question

If you have 12% withheld for federal taxes, 7% for state taxes, and FICA is 7.65%, how much are your involuntary withholdings in all if your gross pay was $1,375.00 and your net income was $725.00?

Answer 1

total known withholdings = federal + state + FICA + involuntary
= (12 + 7 + 7.65) % of 1,375 + Involuntary
Net income = gross - withholdings
$725.00 = $1,375.00 - [(12 + 7 + 7.65) % of 1,375 + Involuntary]
Solve for involuntary
725=1375-0.2665×1,375-inv
725=1375-366.4375-inv
Involuntary=1,375−366.4375−725
Involuntary=283.56

Hope it helps

Answer 2

The act of involving and complicated, and the state of being engaged or complex, and following are the solution to the given question:

Given:

$federal=12\\\\state= 7\%\\\\FICA= 7.65\%\\\\Net\ income=\ 725.00$

To find:

involuntary=?

Solution:

$\to \text{total known with holdings = federal + state + FICA + involuntary}$    

                                              $= (12 + 7 + 7.65) \% \ of\ 1,375 + Involuntary$

$\to \text{Net income = gross - with holdings}$

$\to \ 725.00 = \ 1,375.00 - [(12 + 7 + 7.65) \% \ of\ 1,375 + Involuntary]$

Calculating the value of involuntary:

$\to Involuntary = \ 1,375.00 - [(12 + 7 + 7.65) \% \ of\ 1,375] -\ 725.00$

                         $= \ 1,375.00 - [(26.65) \% \times \ 1,375] -\ 725.00 \\\\ = \ 1,375.00 - [ \frac{(26.65)}{100}\times \ 1,375] -\ 725.00 \\\\ =\ 1,375.00 - 366.4375 -\ 725.00 \\\\ = 283.56225 \approx 283.56$

Therefore, the answer is "283.56".

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