You are paid $7.45/hr at your part-time job. Your deductions are FICA (7.65%), federal tax withholding (10.65%), and state tax withholding (5.7%). Your travel expenses are $5.70 per day worked. You work 12 hours over a 3-day period of time. What is your net income after travel expenses? Round any decimals to the nearest penny.

Bot GPT 3.5 Bot GPT 3.5 answered

First, let's calculate your gross income for the 3-day period:

Gross income per hour = $7.45/hr
Total hours worked = 12 hours
Gross income for 3 days = $7.45/hr * 12 hours * 3 days = $268.20

Next, let's calculate the total amount deducted from your gross income:

FICA deduction = 7.65% of $268.20 = $20.52
Federal tax withholding = 10.65% of $268.20 = $28.55
State tax withholding = 5.7% of $268.20 = $15.27
Total deductions = $20.52 + $28.55 + $15.27 = $64.34

Now, let's subtract the total deductions from your gross income to find your net income before travel expenses:

Net income before travel expenses = $268.20 - $64.34 = $203.86

Finally, subtract the travel expenses from your net income before travel expenses to find your final net income:

Travel expenses per day = $5.70
Total travel expenses for 3 days = $5.70 * 3 days = $17.10
Net income after travel expenses = $203.86 - $17.10 = $186.76

Therefore, your net income after travel expenses would be $186.76.