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- 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.Arthur Wesson, an unmarried individual who is age 68, reports taxable income of 510,000 in 2019. He records positive AMT adjustments of 80,000 and preferences of 35,000. Arthur itemizes his deductions, and his regular tax liability in 2019 is 153,694. a. What is Arthurs AMT? b. What is the total amount of Arthurs tax liability? c. Draft a letter to Arthur explaining why he must pay more than the regular income tax liability. Arthurs address is 100 Colonels Way, Conway, SC 29526.Kyle Struck's filing status is single, and he has earned gross pay of $2,360. Each period he makes a 403(b) contribution of 8% of gross pay; and makes a contribution of 2% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $199,800.Social Security tax = $0.00Medicare tax = $ Please explain how the problem is solved?
- 2:Kevin Bird's filing status is single, and he has earned gross pay of $3,250. Each period he makes a 403(b) contribution of 11% of gross pay and makes a contribution of 1.75% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $198,650.Social Security tax = $Medicare tax = $ 3:Daniel Higgs' filing status is married filing jointly, and he has earned gross pay of $3,670. Each period he makes a 401(k) contribution of 12% of gross pay and contributes $200 to a dependent care flexible spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $143,200.Social Security tax = $Medicare tax = $ 4:Bruce Miller's filing status is married filing separately, and he has earned gross pay of $3,200. Each period he makes a 403(b) contribution of 10% of gross pay and contributes $100 to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to…Jacob Finney's filing status is single, and he has earned gross pay of $1,240. Each period he makes a 403(b) contribution of 8% of gross pay and makes a contribution of 0.80% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $132,100. Social Security tax = $ 49.60 Medicare tax = $ 184.69Kyle 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
- 1:Bradley Banks' filing status is qualifying widower, and he has earned gross pay of $1,570. Each period he makes a 401(k) contribution of 6% of gross pay and makes a contribution of 2% of gross pay to a flexible spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $212,900.Social Security tax = $ Medicare tax = $ 2:Kyle Struck's filing status is single, and he has earned gross pay of $2,400. Each period he makes a 403(b) contribution of 9% of gross pay; and makes a contribution of 1.5% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $199,500.Social Security tax = $ Medicare tax = $ 3:Sebastian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,820. Each period he makes a 401(k) contribution of 10% of gross pay and contributes $150 to a dependent care flexible spending account. His current year taxable earnings for Social…current year taxable earnings for Social Security tax and Medicare tax, to date, are $199,500. 2 Kyle Struck's filing status is single, and he has earned gross pay of $2,400. Each period he makes a 403(b) contribution of 9% of gross pay and makes a contribution of 1.5% of gross pay to a cafeteria plan. His For each of the following employees, calculate both the Social Security tax and the Medicare tax for the weekly 1. Bradley Banks' filing status is qualifying widower, and he has earned gross pay of $1,570. Each period he spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are sa 401(k) contribution of 6% of gross pay and makes a contribution of 2% of gross pay to a flexible pay period described: makes $212,900. a A cisrtian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,820. Each period Lumikes a 401(k) contribution of 10% of gross pay and contributes $150 to a dependent care flexible enending…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
- Bruce Miller's filing status is married filing separately, and he has earned gross pay of $3,200. Each period he makes a 403(b) contribution of 10% of gross pay and contributes $100 to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $136,600.Social Security tax = $68.20Medicare tax = $ ****Incorrect Answer $72.85****Lukas Douglas' filing status is married filing separately, and he has earned gross pay of $2,100. Each period he makes a 403(b) contribution of 11% of gross pay and contributes $80 to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $137,500.Social Security tax = Answer not $110.918Bill 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 = $ *****Incorrect answer: $27.55****
