Take-home pay with the retirement contribution


George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen:

What would be his weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Take-home pay with the retirement contribution
Reference No:- TGS080493

Expected delivery within 24 Hours