What required deductions were taken out of sid pay

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Reference no: EM131998001

The W-2 form for Sid Finch is shown below. Sid had no optional deductions withheld from his pay, but he did have some required deductions taken out. Sid is examining his W-2 form to figure out what those required deductions were, how much they were, and how they affected his take-home pay. (5 points: Part I – 2 points; Part II – 2 points; Part III – 1 point)

Part I: According to the W-2 form, what required deductions were taken out of Sid's pay and what were their amounts?

Part II: What is the sum of the required deductions taken out of Sid's pay, and what percent of Sid's gross income is the sum of those required deductions? Give the percent to two decimal places.

Part III: What was Sid's take-home pay?

Reference no: EM131998001

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