Phil Phoenix is paid monthly. For the month of January of the current year, he earned a total of $9,288.
The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%.
The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%.
Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from his earnings was $1,541.17. His net pay for the month is: