18.Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at $39,300. How much Social Security and Medicare must he pay (in $) this year? Social Security$ Medicare$

Q: 12. An industrial salesperson has weekly earnings of $572. He is married and claims four withholding…

A: Calculation of Net Pay For Calculating the Net pay of the individual who has working in the factory…

Q: Pham, single, has wages of $208,000 and net investment income of $140,000 in 2020. Her AGI (MAGI) is…

A: Medicare tax is also known as hospital insurance tax and it ia a federal employment tax.

Q: Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly…

A: Federal income tax is the on which is payable for the wages earned for a particular period and can…

Q: Use the 2021 tax rates to find Social Security and Medicare deductions for the following problems.…

A:

Q: Use the 2021 tax rates to find Social Security and Medicare deductions for the following problems.…

A: Deductions are defined as those payments made by a taxpayer during a specific period that can be…

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A: Income is a residual amount left after netting of net expenses incurred to earn that income. The net…

Q: 51. If in 2013, a woman made $100,000 on the job, $20,000 from a consulting business she operated,…

A: For year 2013, maximum amount of earning subject to social security tax is $113700   In the given…

Q: If you earned $130,000 this year, you would pay more OASDI and Medicare than your partner who earned…

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Q: Jennifer made $74,900 last year. She pays 6% state income tax, 15% federal income tax, 6.2% for…

A: Gross monthly income is the amount that is paid by an employer to the employee monthly before…

Q: Compute Austin's total social security and Medicare taxes for the fourth quarter, if she is…

A: Given: Wages = $5,300 Social security tax = 12.4% Medicare tax = 2.9%

Q: Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare,…

A: Solution- social security tax=$1000*0.62=62$ medicare tax=$1450*.0145=21.025$. calculating from his…

Q: Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at…

A: Social Security tax = Annual net earnings x Social Security tax rate Medicare tax  = Annual net…

Q: What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly…

A: Payroll tax: This is the tax which is withheld by an employer from the pay of the employee and…

Q: Louise Lewis, age 72, is married and supports her mother, age 96. During 2021. Louise pays $1,300…

A: Medical expenses are deductible over 7.5% of Adjusted gross income. Adjusted Gross income = $100000…

Q: Dotty, age 40, incurred and paid for the following items this year: Doctor visits for allergy…

A: As per IRS, expenses paid during the year less reimbursed portion by employer or insurance company…

Q: Reggie, who is 55, had AGI of $32,400 in 2020. During the year, he paid the following medical…

A: Since marijuana cannot be legally procured as per federal statute, the cost to procure is not…

Q: Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at…

A: The question is based on the concept of social security security tax withholding on wage and…

Q: Frederick is married, he earned $2,655 last week, and had year-to-date earnings of $141,344. Use…

A: An employee who makes $141,344 a year . Though Medicare tax is due on the entire salary, only the…

Q: Sammy's employer pays for 40% of her annual health insurance premium of $5,150,00, Sammy pays the…

A: Annual health insurance premium= 5,150 Premium paid by employer = 5,150 x 40%  = 2,060 Premium to be…

Q: In 2021, I have an income of $49,000 from my job as a salesman. I contribute $8,000 to a traditional…

A: Federal income taxes is the tax amount which a tax payer has to be paid to government and which is…

Q: 16. Gus is the self-employed owner of Four Paws Pet Supply. His estimated annual earnings are…

A: Social security tax and Medicare taxes are to be paid each quarter by self employed person.

Q: Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $303,000 this…

A: The estimated tax must M sent to IRS is $29,769.75 (each quarter).

Q: Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at…

A: The social security tax rate is 6.2% per year multiplied by 2.   The withholding social security…

Q: $721.15. His earnings to date for this year total $25,240.25. How much is deducted from his paycheck…

A: Given details are Gross weekly income for Lorenzo Lopez = $721.5

Q: Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly…

A: Social Security Taxes-It is a payroll tax. In the US every employes and employee shall be liable to…

Q: old son paid during the same 12-month period totaled $1,800. For the current year, O had net income…

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Q: What is the amount of his child and dependent care credit?

A: Given Jack paid = $5000 in day care as expenses Daughter age = 5 years His AGI = $37500

Q: Rick Portnoy's filing status is head of household, and he has earned gross pay of $1,300. Each…

A: Given,   Current year taxable earnings for Medicare tax = $ 206,100

Q: In 2020, Mary and John Williams who are both over 65, married and file a joint return earned $29,408…

A: In Schedule A, Form 1040, deduction of only that portion of medical expense in available, which…

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Q: Federal 13% State 10% FICA 6.2% 1.45% Total deductions Medicare + %3D Net Pay

A: Determining gross pay for salaried employees is a bit different. To calculate gross pay, take total…

Q: Samantha makes $28.00 per hour and is paid for a 40 hour work week. She pays 15% federal income tax,…

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Q: Maria has just finished her thirty-second year with her company and is getting ready to retire.…

A: Expected to receive Social Security  = 55% of Average Annual Salary Average Annual Salary = $ 62,544…

Q: 4. Juan Rodriguez earns $14.00/hour, and worked 48 hours during the most recent week. He makes a…

A: We are required to compute the Deduction amount for  Social security, Medicare, and Voluntary…

Q: You interviewed for a job that pays $68,500 annually. You pay 6% to Social Security, 1.7% to…

A: Formula: Salary after taxes = Gross salary - taxes

Q: 2. Maria Metcalf, a heating technician, has a gross weekly income of $502.16. Her earnings to date…

A: The question gives us gross weekly earnings and earnings till date for this year It then asks us how…

Q: Amy’s Adjusted Gross Income (AGI)?

A: Adjusted gross income = gross income - deduction  Gross income = 50000 Deduction = 5000+10000=15000

Q: Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and…

A: Given the following information: Gross income: $3,100 Employer withholds $780 in federal, state,…

Q: Gabe contributes 12% of the total cost of his individual health care coverage. He pays $33.45 per…

A: Calculation of amount of contribution paid for one year: Contribution for a week=$33.45 No. of…

Q: What are the social security and Medicare withholdings for an executive whose annual gross earnings…

A: Social security wage base refers to the maximum amount of earned income up to which the taxation…

Q: Rebecca and Irving incur the following medical expenses during 2020: Medical insurance premiums…

A: GIVEN     Rebecca and Irving incur the following medical expenses during 2020: Medical…

Q: Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly…

A: Here given the details of calculation of Social security taxes, Medicare taxes and Federal Income…

Q: Wanda gets her health insurance covered in an employee benefits package. Her employer pays 45% of…

A: 45% of insurance premium for basic health insurance and 35% of insurance premium for dental and…

Q: Sandra earns $21,000 in employment income in 2020 and her spouse Susan earns $18,000. They have two…

A: The maximum child care expense deduction the family can take is $6,500. Detailed…

Q: 1. In 2021, Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio,…

A: Disclaimer :- Hence it is a multiple type question we can answer only first question from the given…

Q: Ann is single and works full-time. In 2020, Ann paid child care expenses of $6,000 for someone to…

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Q: Carolyne is paid $4,000.00 biweekly. This year, to date, she has earned $27,300.00. What will be the…

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Q: Malcolm and Megan Johnson are both over age 65, married and are filing a joint tax return for 2020.…

A: All amounts are in dollars ($).