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Gross monthly income from part-time job: 2. Net monthly income from part-time job: Deduct 20% of the income...

1. Gross monthly income from part-time job:
2. Net monthly income from part-time job: Deduct 20% of the income for payroll taxes (gross income x .80 = net income).

Answer

  1. Gross monthly income from part-time job: Lisa works 20 hours a week at $10 per hour. Therefore, her weekly income is 20 x $10 = $200. Her gross monthly income is $200 x 4 = $800.

  2. Net monthly income from part-time job: Deduct 20% for payroll taxes. Net income = Gross income x 0.80 = $800 x 0.80 = $640.

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