Devin Moody earned gross pay of $1,450 during a recent pay period. He contributes 11% of...
Devin Moody earned gross pay of $1,450 during a recent pay period.
He contributes 11% of gross pay to a 403(b) retirement plan and
$100 each pay period to a cafeteria plan.
Taxable earnings = $
Devin Moody earned gross pay of $1,450 during a recent pay period.
He contributes 11% of gross pay to a 403(b) retirement plan and
$100 each pay period to a cafeteria plan.
Taxable earnings = $
Homework Answers
Taxable Earnings = $1450 - ($1450 x 11%) - $100 = $1190.50
Contribution to a 403(b) retirement plan and cafeteria plan are
both tax deductible.
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