Question

If 10% of the power of your paycheck was withheld for federal income taxes, and another 6% for state income taxes how much does your net or take-home pay be

Answer 1

To calculate your net pay, subtract the amounts withheld for federal and state income taxes from your gross pay.

Step-by-step explanation:

To calculate your net or take-home pay, you would first need to determine the amount withheld for federal income taxes and state income taxes. If 10% of your paycheck is withheld for federal income taxes and another 6% is withheld for state income taxes, you need to subtract these amounts from your gross pay to find your net pay.

Let's say your gross pay is $1500 every two weeks. To find the amount withheld for federal income taxes, you would multiply $1500 by 10% (0.10), which is $150. Next, you would multiply $1500 by 6% (0.06) to find the amount withheld for state income taxes, which is $90.

To find your net pay, you would subtract $150 (federal income taxes) and $90 (state income taxes) from $1500 (gross pay). Your net pay would be $1260.

Answer 2

If 16% (10% for federal, 6% for state) of your paycheck is held for taxes, and your paycheck is 120 dollars, you'd lose 19.20 dollars to taxes, leaving you 100.80 dollars.

Step-by-step explanation:

If 10% of your paycheck was withheld for federal income taxes, and another 6% for state income taxes, that's a total of 16% in taxes being deducted. Given a paycheck amount of 120 dollars as an example, you'd calculate this by multiplying 120 by 16% (or 0.16). This will give you the total amount being taken out for taxes. Subtracting this amount from your gross paycheck will give you your take-home, or net pay.

To illustrate, 120 * 0.16 = 19.20. This means 19.20 dollars are taken out for taxes. Your take-home pay would thus be 120 - 19.20 = 100.80 dollars.

Learn more about paycheck deductions