University of Central Florida (UCF) GEB3006 Intro to Career Development and Financial Plannings Final Practice Exam 3 Flash Cards

Given the following: Gross salary = $120,000, Employee contributions to 401-K = $12,000, Employer match to 401-K = $5,000, Flexible spending account savings = $2,000, Health insurance premiums paid by employee = $3,000, Health insurance paid directly by employer = $8,000. What is the W-2 taxable income?