15-16) Larry Calanan has earnings of $518 in a week. He is single and claims 2 withholding allowances. His deductions include FICA, Medicare, federal withholding, state disability insurance, state withholding, union dues of $15, and charitable contributions of $21. 15) Find the tax amounts Medicare=? FICA=? Select the correct total tax amount. $101.35 $114.35 $395.96 federal wathholding=? SDI=? state withholding=? $38.93
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- 1) Nancy has cumulative earnings of $104,500 and earns $7,800 during the current pay period.If the FICA rate is 4.2 percent for Social Security, with a limit of $106,800, and 1.45 percent forMedicare, applied to all earnings, calculate the total FICA tax to be withheld for this pay period.a. $440.70.b. $209.70.c. $113.10.d. $96.60.e. $231.00. 2) Ernie White has $6,800 cumulative earnings during the calendar year and earned $950 duringthe current pay period. If the state unemployment tax is 5.4 percent of the first $7,000, the federalunemployment tax is 0.6 percent of the first $7,000, the FICA Social Security tax is 6.2 percent ofthe first $106,800, and FICA Medicare tax is 1.45 percent on all earnings, the amounts placed inthe Taxable Earnings columns of the payroll register are: a. state unemployment, $0; federal unemployment, $0; Social Security, $850; Medicare,$850.b. state unemployment, $950; federal unemployment, $950; Social Security, $950; Medicare,$950.c. state unemployment,…Use the following federal tax table for biweekly earnings of a single person to help answer the question below. Emeril has gross biweekly earnings of $784.21. By claiming 1 more withholding allowance, Emeril would have $13 more in his take home pay. How many withholding allowances does Emeril currently claim? a. 3 b. 4 c. 5 d. 6For the person below, calculate the FICA tax and income tax to obtain the total tax owed. Then find the overall tax rate on the gross income, including both FICA and income tax. Assume that the individual is single and takes the standard deduction. A womanearned a salary of $27,000 and received $1000 in interest. Tax Rate Single 10% up to $9325 15% up to $37,950 25% up to $91,900 28% up to $191,650 33% up to $416,700 35% up to $418,400 39.6% above $418,400 Standard deduction $6350 Exemption (per person) $4050 Let FICA tax rates be 7.65%on the first $127,200 of income from wages, and 1.45% on any income from wages in excess of $127,200. Her income tax is $_____.
- Which equation could be used to identify one of the following levels of Federal Incomne Tax withholding? PERCENTAGE METHOD FOR FIT WITHHOLDING MARRIED PERSON WEEKLY PAYROLL PERIOD Allowance Rate = $63.46 The amount of FIT withholding is... each w %3D . If he Weekly Taxable Wage any rin Over But not over. $0.00 0.10(income 58) $36.00 + 0.12(income 222) $171.36 + 0.22(income 588) $1 $222 222 588 588 1,117 Select one: O A. FIT = 37.70 + 0.12g; where g = gross pay in dollars. O B. FIT = 36 + 0.22(g - 222); where g = gross pay in dollars. O C. FIT = 171.36g - 129.36; where g = gross pay in dollars. O D. FIT = 36 + 0.12g - 26.64; where g = gross pay in dollars. OutiFor the person below, calculate the FICA tax and income tax to obtain the total tax owed. Then find the overall tax rate on the gross income, including both FICA and income tax. Assume that the individual is single and takes the standard deduction. A man earned a salary of $27,000 and received $1250 in interest. Tax Rate Single 10% up to $9325 15% up to $37,950 25% up to $91,900 28% up to $191,650 33% up to $416,700 35% up to $418,400 39.6% above $418,400 Standard deduction $6350 Exemption (per person) $4050 Let FICA tax rates be 7.65%on the first $127,200 of income from wages, and 1.45% on any income from wages in excess of $127,200. His total FICA tax is $____.21. Aliza had a tax liability of $6,228 last year. She was entitled to tax credits of $758 and withholding amounted to $540 per month. Aliza owed other taxes of $616. Calculate the amount of the refund or the amount of taxes due (as the case may be). a.$394 refund b.$1,010 refund c.$1,626 refund d.$4,930 due
- 9. Larry Teng works for a company that uses a percentage method to compute the federal income tax withheld. Larry is single and claims one additional dependent. The weekly exempt amount as claimed on the W-4 is $61.54 each. He earns $680 a week. What amount should be withheld from his gross pay? a. $68.69 b. $69.90 c. $81.90 d. $90.65FICA Taxes. For each of the following individuals, calculate the FICA taxes and income taxes to obtain the total tax owed. Then find the overall tax rate on the gross income, including both FICA income taxes. Assume that all the individuals are single and take the standard deduction. Use the tax rates on Table 4.9. Jack earned a salary of $44,800 and received $1,250 in interest The solution this problem FICA Tax = $3,427; Income tax = $4881; total tax = $8308; tax rate = 18.0%1: Julia Jacobsen files as single on her tax return and earned weekly gross pay of 510. For each pay period she makes a 401(k) contribution of 2% of gross pay. Julia checked box 2c on Form W-4, entered $40 on line 4c of the form, and did not enter any information in step 3 of the form. Federal income tax withholding = $ 2: Alejandro Wright files as single on his tax return and earned weekly gross pay of 1330. He does not make any retirement plan contributions. Alejandro entered 500 in step 3 of the form and did not enter any information in steps 2 & 4 of the form.Federal income tax withholding = $Tentative Federal Income Tax Withholding = $ 3: Beatrice Nen files as married filing jointly on her tax return and earned weekly gross pay of 1150. For each pay period she makes a flexible spending account contribution of 5% of gross pay. Beatrice did not enter any information in steps 2-4 of the form.Federal income tax withholding = $
- 1.Ms. Evelyn is tax comiance officer at the breau of internal revenue earning monthly salary of P35,196.00. How much is Ms. Evelynis take home pay.Darius' net income from self-employment reported on Schedule C is $25,000. Calculate his self-employment tax. Group of answer choices $1,766 $23,088 $3,825 $3,532Mary Singh, has the following information for her İncome Tax Return this year: Net Taxable Capital Gains Annual Union Dues Employment Income RRŠP Deduction First Time Home Buyer's Credit CPP Payroll Deduction from her T4 Slip Mary's T1 Income Tax Return Net income, Line 23600 for this year is? $10,000 $2,000 $40,000 $10,000 $5,000 $2,000