Questions: Nolan works part-time at a movie theater making his state's minimum wage of 10.10 per hour. He receives a paycheck every 2 weeks. a. If he works 20 hours over the course of the first two weeks in February, how much should he expect to have taken out of his paycheck for payroll taxes? b. The second half of February is much busier with local schools closed for the entire week of Presidents Day, and Nolan's boss schedules him for 27 hours instead. Other than payroll taxes, Nolan doesn't have any other money withheld from his paycheck. How much can he expect his take-home pay to be? Note: Take-home pay is gross earnings minus any deductions. Payroll taxes are shared by traditional employees and their employers. Alternatively, if you are self-employed, which includes gig workers or those with a side-hustle, you have to pay the employer's portion as well as the employee's portion. These taxes are then called Self-Employment Contributions Act (SECA) taxes, which are taxed at the rates shown below. Tax Total Social Security 12.4% Medicare 2.9% Total 15.3%

Transcript text: Nolan works part-time at a movie theater making his state's minimum wage of $ \$ 10.10$ per hour. He receives a paycheck every 2 weeks. a. If he works 20 hours over the course of the first two weeks in February, how much should he expect to have taken out of his paycheck for payroll taxes? b. The second half of February is much busier with local schools closed for the entire week of Presidents Day, and Nolan's boss schedules him for 27 hours instead. Other than payroll taxes, Nolan doesn't have any other money withheld from his paycheck. How much can he expect his take-home pay to be? Note: Take-home pay is gross earnings minus any deductions. Payroll taxes are shared by traditional employees and their employers. Alternatively, if you are self-employed, which includes gig workers or those with a side-hustle, you have to pay the employer's portion as well as the employee's portion. These taxes are then called Self-Employment Contributions Act (SECA) taxes, which are taxed at the rates shown below. \begin{tabular}{|c|c|} \hline Tax & Total \\ \hline Social Security & $12.4 \%$ \\ \hline Medicare & $2.9 \%$ \\ \hline Total & $15.3 \%$ \\ \hline \end{tabular}