1:Paul Robinson's filing status is married filing jointly, and he has earned gross pay of $2,650. Each period he makes a 403(b) contribution of 8% of gross pay . His current year taxable earnings for Medicare tax, to date, are $274,000

SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter10: Deductions And Losses: Certain Itemized Deductions
Section: Chapter Questions
Problem 2BCRQ
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1:Paul Robinson's filing status is married filing jointly, and he has earned gross pay of $2,650. Each period he makes a 403(b) contribution of 8% of gross pay . His current year taxable earnings for Medicare tax, to date, are $274,000.

Total Medicare Tax = $ 

2:Stephen Belcher's filing status is single, and he has earned gross pay of $1,840. Each period he makes a 401(k) contribution of 6% of gross pay and contributes 3% of gross pay to a dependent care flexible spending plan. His current year taxable earnings for Medicare tax, to date, are $198,950.

Total Medicare Tax = $ 

3:Sidney Black's filing status is head of household, and he has earned gross pay of $970. Each period he contributes $50 to a flexible spending plan. His current year taxable earnings for Medicare tax, to date, are $86,400.

Total Medicare Tax = $ 

4:Bill Clay's filing status is married filing separately, and he has earned gross pay of $1,900. Each period he makes a 403(b) contribution of 10% of gross pay and contributes $75 to a cafeteria plan. His current year taxable earnings for Medicare tax, to date, are $199,600.

Total Medicare Tax = $ 

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