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 = $

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 = $

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 30P: Lisa records nonrefundable Federal income tax credits of 65,000 for the year. Her regular income tax...

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Similar questions

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.
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 = $ ****Incorrect Answer!! $41.94*****
Shawn Buffett's filing status is married filing separately, and he has earned gross pay of $2,680. Each period he makes a 401(k) contribution of 14% of gross pay and contributes $60 to a cafeteria plan. His current year taxable earnings for Medicare tax, to date, are $210,300. Total Medicare Tax = $ 33.55
Caleb Griffin's filing status is married filing jointly, and he has earned gross pay of $3,100. Each period he makes a 401(k) contribution of 7% of gross pay. His current year taxable earnings for Medicare tax, to date, are $198,400. Total Medicare Tax = $ 44.95
Charlie Lilly's filing status is married filing jointly, and he has earned gross pay of $1,850. Each period he makes a 401(k) contribution of 15% of gross pay and contributes $60 to a dependent care flexible spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $84,200. Social Security tax = $ 5,220.40 Medicare tax = $ 1,220.90
Rick Portnoy's filing status is head of household, and he has earned gross pay of $1,300. Each period he contributes $40 to a flexible spending plan. His current year taxable earnings for Medicare tax, to date, are $206,100. Total Medicare Tax = $
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Sebastian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,650. Each period he makes a 401(k) contribution of 12% of gross pay and contributes $130 to a dependent care flexible spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $96,300. Medicare Tax ________
Kyle Struck's filing status is single, and he has earned gross pay of $2,340. Each period he makes a 403(b) contribution of 7% of gross pay; and makes a contribution of 2.5% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $199,100. Medicare Tax _______ Incorrect answer: 52.55 & 33.08
Desmond Carroll's filing status is married filing separately, and he has earned gross pay of $4,120. Each period he makes a 403(b) contribution of 5% of gross pay and contributes $90 to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $97,200. Social Security tax = $ 6,020.40 Medicare tax = $ 1,309.40
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 = $
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