Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $305,000 this year. His social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and his federal income tax rate is 24%. How much estimated tax (in $) must Marc send to the IRS each quarter?

Q: 2. Jeff invested some of his P 1,500,000 retirement benefit at 12% and the rest at 15% yield. How…

A: Let the investment at 12% benefit be : X  Let the investment at 15% benefit be : Y Therefore X + Y =…

Q: A new one-year membership at RecPIEX COSTS $160. A registration fee of $28 is paid up front, and the…

A:

Q: The TACO Truck costs $60,000. If you used a straight-line depreciation and plan to keep the vehicle…

A: Here cost of the asset =  $60,000 Here, we plan to keep the vehicle for 10 years  The salvage value…

Q: Ian is paid a base salary of $13,000 per year. In addition to this salary, he receives commission on…

A: Given :  Ian's base salary is $ 13,000 per year.  In addition to this salary, he receives commission…

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

A: Given that gross earning is $38,300 To find the withholding for the social security, apply the rates…

Q: A company rents an office building for $5500 per month. If they spend $49,920 to upgrade the…

A:

Q: d. A reservation costs $25 and passengers who cannot be accommodated will receive $25 refund. How…

A: The refund will make in the case when the number of passengers who show up is greater than 5 as…

Q: Mr. Jackson borrowed money from his bank and on his life insurance to start a business. His interest…

A:

Q: With a certain medical insurance​ policy, the customer must first pay an annual ​$250 deductible,…

A:

Q: In what year will the estimated revenue of Walmart be 1,449 bllion US dollars?

A: Given,                r=mx+b

Q: A bank loaned out $20,000, part of it at the rate of 10% annual interest, and the rest at 4% annual…

A:

Q: Dean is planning to purchase a new Nissan Altima which costs $26,865.  He has saved up $3,200 to put…

A:

Q: If our monthly income is $1,400 and your house payment is $1,140, what fraction of your monthly…

A: Monthly income = $1,400  House payment = $1,140 Fraction of monthly income into house payment =…

Q: You inherit $28,000 from a very wealthy grandparent, with the stipulation that for the first year,…

A: Let x=amount invested at 4%       y=amount invested at 10%

Q: One proposal in Congress has been to change the tax laws and have a "flat-tax rate". This would…

A: Explained below

Q: Sammy wants to buy a new stereo price at $443 he enters into agreement to pay $22 a month for 24…

A: Cost of New Stereo = $443 He will pay $22 a month for 24 months to buy the sterio. Calculating the…

Q: A bank loaned out $23,500, part of it at the rate of 4% annual interest, and the rest at 13% annual…

A: In the given question we have to find the part of the amount $23500 s.t interest on the first part…

Q: Instead of paying $20 per month, you decide to increase it to $50 per month.  How much will you owe…

A:

Q: Jane Doe has a job in Detroit, MI, that pays $45,550 per year.  How much can she afford to spend…

A: Given that. Salary per year =  $45,550 Set budget = 15% of monthly take home pay.

Q: The more hours maribel work her job, the larger her paycheck becomes. Independent or dependent

A: The number of hours is independent because it is the will of marible

Q: Your University magazine, The Indus Magazine, has fixed production costs of Rs.1.5 million per…

A: We have given that The Indus Magazine ,has fixed production costs of Rs 1.5million per edition and…

Q: A payday loan company charges a $90 fee for a $600 payday loan that will be repaid in 20 days.…

A:

Q: If the sales tax is 8.25%, how much does John have to pay for the phone at the store, before he…

A:

Q: Suppose a town has 75,000 residents and needs to generate ​$4 million in new tax revenue. If the tax…

A: To calculate the individual tax , assuming every body pays the same amount

Q: Pamela Mello is paid on an incremental commission schedule. She is paid 2.6% on the first $70,000…

A:

Q: If Damon invests $1600 for 1 year in a savings account that pays a simple interest rate of 1.09%…

A: Definition used -            Simple interest -                            SI=Prt100…

Q: In 2011, Manitoba progressive income tax rates were 10.8% on the first $31,000, 12.75% on the next…

A: Given: Tax rate is 10.8% till $31000 Tax rate is 12.75% beyond $31000 till $36000 Tax rate is 17.4%…

Q: If money is worth 14%, what payment on August 29 would be equal in value to a payment of $86,900 due…

A:

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

A: Lee Sutherlin's net earnings is $38,100. For a self employed person social security tax and the…

Q: Your starting salary at a new companv is $34,000 and it increases bv 2.5% each vear. What will vour…

A:

Q: If the property tax on a $250,000 home is $2,600, what is the tax on a $100,000 home?

A:

Q: 4. Jessica makes $24,000 a year, but receives weekly paychecks. If 12% of her check is withheld for…

A: As per policy only first question is answered. Ques 4. Annual Income of Jessica = $24,000 Federal…

Q: Pamela Mello is paid on an incremental commission schedule. She is paid 2.9% on the first $60,000…

A:

Q: Mrs. Stevens bought a Mustang for $ 25,000. If it depreciates at a rate of 15% a year. What is the…

A: Depreciation amount is equal to 15% of 25000.

Q: Sierra plans to retire at age 63, and estimates that $69,600 a year in retirement for 22 years will…

A:

Q: If you pay $20.55 each month for your cell phone for two years, how much is the total cost of your…

A:

Q: You inherit $ 70000 from a very wealthy​ grandparent, with the stipulation that for the first​ year,…

A: To work out the two amounts (investments) using the given data.

Q: $35 USD a week) plan, how many weeks are included in this plan? How much would this be per quarter…

A: Given, A member has the $455 USD a quarter ($35 USD a week) plan, number of weeks are calculated.…

Q: Suppose Sam makes $75,000 a year while Willie makes $6,500 per month.  Who makes more money per…

A:

Q: A machine costing RM100 000 depreciates RM10 000 for the first year,RM9 000 for the second year ,RM8…

A: We know

Q: How much do you need to deposit each month for three years into a savings account that pays 6.5% APR…

A:

Q: Consider a simple tax system where incomes up to $10,000 are taxed at 10% and any additional income…

A:

Q: If John earns $4,500 per month and spends 20% of his earnings on his monthly rent, how much does he…

A: We have to find

Q: If Ms. Smith receives an income of $26,247 per year, how much does she receive each month?

A: If Ms. Smith receives an income of $26,247 per year, how much does she receive each month

Q: You inherited $5000 with the stipulation that for the first year the money had to be invested in two…

A: Let the amount invested in 9% fund be x. As, the amount is %5000. Therefore, the amount invested in…

Q: How much additional spending will be generated by a $10 billion tax rebate if 60% of all income is…

A: Given, Annual payroll is 10 million$ Rate of spending is 60% We have to find additional spending.…

Q: You are currently making $70,000 a year after taxes and are interested in maintaining your current…

A:

Q: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…

A: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…

Q: If Arnold earns a salary of $18,564 a year and is paid biweekly, how much is his gross pay per…

A: Here is the solution