Mike Dooley's Regular Hourly Wage Is $16 an Hour

question 185

Essay

Mike Dooley's regular hourly wage is $16 an hour. He receives overtime pay at the rate of time and a half. The FICA tax rate is 7.65%. Mike is paid every two weeks. For the first pay period in January Mike worked 86 hours of which 6 were overtime hours. Mike's federal income tax withholding is $350 and his state income tax withholding is $110. Mike has authorized that $50 be withheld from his check each pay period for savings bonds.
Instructions
Compute Mike Dooley's gross earnings and net pay for the pay period showing each payroll deduction in arriving at net pay.

Distinguish between covert and overt behaviors.

Comprehend the concept and implications of operant extinction.

Evaluate the importance of assessment reliability and validity.

Understand the concept of secondary gains in behavior.

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Definitions:

Gross Investment Income

The total income generated from various investment sources before any deductions or taxes are applied.

Medical Expense Deduction

A tax deduction allowed for unreimbursed medical expenses that exceed a certain percentage of the taxpayer's adjusted gross income.

Dependent

Dependent is a person, typically a child or elderly family member, whose support and maintenance are provided by another, qualifying the supporting individual for certain tax benefits.

Pease Limitations

Named after Congressman Don Pease, these are limits on the amount of itemized deductions that high-income individuals can claim.