Jordan earns $55,945 per year and is paid semi-monthly how much would jordan pay for Medicare tax?
Q: If Austin is self-employed and makes $5,100.00 semimonthly, compute her total social security and…
A: Introduction: A tax is a mandatory fee or financial charge levied by the government on an individual…
Q: In 2021, Lance earns $39,000 from his job in total income. He contributes $3,000 to his Roth 401(k),…
A: Roth 401(k) is a account which in which a small contribution is deposited by employee to generate…
Q: Rudolph Fabrizio earned gross pay of $3,600. Each period he contributes 4% of gross pay to a…
A: The wage base cap for social security tax for 2020 is $ 137700. As Rudolph fabrizio current year…
Q: Jessica makes $24,000 a year, but receives weekly paychecks. If 12% of her checks is withheld for…
A: Gross pay = Total annual pay /no of pay periods Total deduction /withholding =Federal tax +FICA…
Q: Miguel, a single teacher, earns $1,500 every two weeks (biweekly). He claims two allowances. What is…
A: Federal Income tax Withhold For calculating the Federal Income tax with by using Wage bracket method…
Q: Sebastian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,820.…
A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…
Q: Compute the additional Medicare tax for the following taxpayers. If required, round your answers to…
A: Medicare tax is a tax that is deducted from the paybacks of people to cover medicare expenses.…
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: 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…
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A: The total annual compensation of Leah would consists of annual salary plus employer's contribution.…
Q: Esposito's yearly taxable income totals $78,000, and he pays $20,050 in federal income tax every…
A: Espsito's Yerly taxable income is $78,000 Tax paid is $20,050 To Find: Net Federal income tax…
Q: Angelo has a yearly salary of $65,800. If he pays a 15% federal tax, a 6.2% social security tax, a…
A: YEARLY salary =65800 Total tax=15+6.2+6+3.5=30.7%
Q: Lukas Douglas' filing status is married filing separately, and he has earned gross pay of $2,100.…
A: Earned gross pay = $2100 Contribution = 11% x 2100 = $231 Flexible pay spending = $80 Gross pay…
Q: Greg has self-employment income in 2021 of $96,000. The self-employment tax is: (round to the…
A: Answer
Q: Miss Irish Ryan receives a regular semi-monthly salary of 25,000. If she is married with three…
A:
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: Baker Green's weekly gross earnings for the week ending December 7 were $2,800, and her federal…
A: Introduction: A person's net pay is the amount of money left over for distribution to them after all…
Q: 8. Antwan Campbell earns $494 per week. He is married and claims 1 child as a dependent. The state…
A: Antwan Campbell Earnings : $494 per week Status : Married State tax rate : 2.25%
Q: Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal…
A: Tax: It is levied on individual and the Corporation by the Federal Government of the country.
Q: Valentino is a patient in a nursing home for 45 days of 2021. While in the nursing home, he incurs…
A: Gross income of an individual or an organization can be define as total amount of revenue or other…
Q: Zebulon is single, earned $2,655 last week, and had year-to-date earnings of $141,344. Use the 2021…
A: The Social Security tax rate for both employees and employers is 6.2% of employee compensation (for…
Q: Cardo works in a private company. he received de minimis benefit during the taxable year. How much…
A: Non taxable De minimis are allowances which are exempted or partially exempted from tax.
Q: Ann earns $95,000 per year in salary. She pays 25% federal income tax, 6% state income tax, 6.2%…
A: The question is based on the calculation of gross monthly income and net monthly income . Net income…
Q: Susan, who is a qualifying widow, has a monthly gross income of $5,750.78 Calculate her net earnings…
A:
Q: Valentino is a patient in a nursing home for 51 days of 2021. While in the nursing home, he incurs…
A: Gross income of the individual means income without taking any deductions and exemptions.
Q: Penny is paid a gross wage of $2,846 on a monthly basis. She is single and is entitled to 2…
A: Exhibit 9-3
Q: Dustin Ambrose is married and claims 3 allowances. His gross weekly pay is $628.00. Each week he…
A: There are 2 methods for calculating the federal tax withholding:- Wage bracket method or Percentage…
Q: Francisco's gross income this year is $29,550. His employer withholds $55 per month to pay for his…
A: The taxable income is used to calculate the total gross income which is deduct with the employer pay…
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: A citizen receives a notification from the CRIM specifying that his tax obligation is $3,000 per…
A: CRIM is criminal specifying tax obligation, It is tax evasion, if a person or a business avoid…
Q: Robert and John are married and have 4 dependent children and earn a gross biweekly salary of…
A: The tax owed to the government by the employer or entity that made payment to the recipient is…
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A: Payroll: The total payment that a company is required to pay to its employee for the services…
Q: Sebastian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,650.…
A: Medicare tax are used for fund hospital, hospice, and nursing home expenses for elderly and disabled…
Q: Pham, single, has wages of $208,000 and net investment income of $140,000 in 2020. Her AGI (MAGI) is…
A: The Medicare tax liability is the withholding tax liability charged by the IRS on the…
Q: Mark's gross annual salary is $64,891 with biweekly paychecks. If he is married and has 3 dependent…
A: When an employee receives pay every two weeks form an employer is known as biweekly pay. There are…
Q: Samantha makes $28.00 per hour and is paid for a 40 hour work week. She pays 15% federal income tax,…
A:
Q: Prior to the current period, Omar Phipps had earnings subject to Social Security tax of $115,800.…
A: The maximum income subject to social security tax for the year 2021 is = 142800 2022 is = 147000
Q: My daughter earns a salary of $40,800 per year, payable monthly. She is married and claims four…
A: Calculate total withholding allowance.
Q: Baker Green's weekly gross earnings for the week ending December 7 were $1,800, and her federal…
A: Computation of Social Security amount is as follows: =$1800×6.0%=$108 Computation of Medicare amount…
Q: Robert and John are married and have 5 dependent children and earn a gross biweekly salary of…
A: Sr No Particulars Amount in $ 1 Gross Salary ($ 5,782 * 26 Weeks) 150,332 2…
Q: Sammy's employer pays for 40% of her annual health insurance premium of $5,150.00. Sammy pays the…
A: As the employer is paying 40% of the premium Sammy will pay the balance of 100% - 40% = 60%
Q: Kyle Struck's filing status is single, and he has earned gross pay of $2,360. Each period he makes a…
A: Given information: Gross pay = $2,360.
Q: Peter's gross income is $80,000 a year, and Wendy earns $100,000 a year. They put $3,000 each into…
A: a. Gross income = Peter’s gross income + Wandy gross income = $80000 + $100000 = $180000 b.…
Q: Stephen Belcher's filing status is single, and he has earned gross pay of $1,840. Each period he…
A: Answer: Gross pay = $1840 Flexible spending account = 1840*3% = 55.20Taxable Earnings for Medicare…
Q: Grady received $8,760 of Social Security benefits this year. Grady also reported salary and interest…
A: Note: Only one situation is solved as the data of other 4 is not given. Taxable income is the amount…
Q: Jamie receives a basic pay of P29,880 a month and a 2% commission on her sales. She sold P505,000 in…
A: Total Taxable Income will be Salary (P29880*12) P358560 Commission (P505,000 * 2%) P10,100…
Q: Carolyne is paid $4,000.00 biweekly. This year, to date, she has earned $27,300.00. What will be the…
A:
Q: During the year ended 30 June 2019 Rechelle, a resident taxpayer, received salary and wages income…
A: During year ended 30.06.2019, Rechelle, a resident tax payer salary and wages income = $34750…
Q: Carolyne is paid $2,000.00 biweekly. This year, to date, she has earned $23,300.00. What will be the…
A: Payment of $2000 is done biweekly, which means paycheck is received biweekly. Calculation of total…
Q: ral income tax withholding was $144. Assuming the social
A: Given : Baker's Green weekly gross earning =1200 income tax withholding = 144 social security 6%…
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- Fred, a self-employed taxpayer, travels from Denver to Miami primarily on business. He spends five days conducting business and two days sightseeing. His expenses are 400 (airfare), 150 per day (meals), and 300 per night (lodging). What are Freds deductible expenses?Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.How much taxable income should each of the following taxpayers report? a. Kimo builds custom surfboards. During the current year, his total revenues are 90,000, and he incurs 30,000 in expenses. Included in the 30,000 is a 10,000 payment to Kimos five-year-old son for services as an assistant. b. Manu gives hula lessons at a local bar. During the current year, she receives 9,000 in salary and 8,000 in tips. In addition, she engages in illegal behavior, for which she receives 10,000.
- Lisa records nonrefundable Federal income tax credits of 65,000 for the year. Her regular income tax liability before credits is 190,000, and her TMT is 150,000. a. What is Lisas AMT? b. What is Lisas regular income tax liability after credits?Tia is married and is employed by Carrera Auto Parts. In 2019, Carrera established high-deductible health insurance for all its employees. The plan has a 2,700 deductible for married taxpayers. Carrera also contributes 5 percent of each employees salary to a Health Savings Account. Tias salary is 30,000 in 2019 and 32,000 in 2020. Tia makes the maximum allowable contribution to her HSA in 2019 and 2020. She received 600 from the HSA for her 2019 medical expenses. In 2020, she spends 1,400 on medical expenses from her HSA. The MSA earns 28 in 2019 and 46 in 2020. a. What is the effect of the HSA transactions on Tias adjusted gross income? b. How much does Tia have in her HSA account at the end of 2020?Valentino is a patient in a nursing home for 45 days of 2019. While in the nursing home, he incurs total costs of 13,500. Medicare pays 8,000 of the costs. Valentino receives 15,000 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is 370. Of the 15,000, what amount may Valentino exclude from his gross income?
