Consider the situation below showing the weekly income tax of a single (civil status) employee in a certain country. Salary ... Amount of Income Tax Over But not over $0 $44 $0 $44 $222 $0 + 10% of excess over $44 $222 $764 $17.80 + 15% of excess over $222 $764 $1,789 $99.10 + 25% of excess over $764 $1,789 $3,685 $355.35 + 28% of excess over $1,789 $3,685 $7,958 $886.23 + 33% of excess over $3,685 $7,958 $7,990 $2,296.32 + 35% of excess over $7,958 $7,990 $2,307.52 + 39.6% of excess over $7,990 If an employee's income tax is $1,980.18, what is her weekly salary?Do not include a dollar sign, a space, or a comma. Blank 1

Consider the situation below showing the weekly income tax of a single (civil status) employee in a certain country. Salary ... Amount of Income Tax Over But not over $0 $44 $0 $44 $222 $0 + 10% of excess over $44 $222 $764 $17.80 + 15% of excess over $222 $764 $1,789 $99.10 + 25% of excess over $764 $1,789 $3,685 $355.35 + 28% of excess over $1,789 $3,685 $7,958 $886.23 + 33% of excess over $3,685 $7,958 $7,990 $2,296.32 + 35% of excess over $7,958 $7,990 $2,307.52 + 39.6% of excess over $7,990 If an employee's income tax is $1,980.18, what is her weekly salary?Do not include a dollar sign, a space, or a comma. Blank 1

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter8: Payroll Accounting: Employee Earnings And Deductions

Section: Chapter Questions

Problem 3SEA

See similar textbooks

Similar questions

1. :An employer in the U.S. Virgin Islands, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $1,420 and $32,100. During the current pay period, these employees earn $3350 and $1,700, respectively. The applicable SUTA tax rate is 4%, and the U.S. Virgin Islands SUTA threshold is $32500. FUTA tax = $ SUTA tax = $
1:An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,100 and $6,900. During the current pay period, these employees earn $1,800 and $2,850, respectively. The applicable SUTA tax rate is 4%, and the U.S. Virgin Islands SUTA threshold is $28,900. FUTA tax = $ SUTA tax = $ 2:An employer in Newark, New Jersey employs three individuals, whose taxable earnings to date (prior to the current pay period) are $28,700, $34,100, and $6,850. During the current pay period, these employees earn $3,800, $2,350, and $1,580, respectively. The applicable SUTA tax rate is 3.4%, and the New Jersey SUTA threshold is $36,200. FUTA tax = $ SUTA tax = $ 3:An employer in Cincinnatti, Ohio employs two individuals, whose taxable earnings to date (prior to the current pay period) are $4,900 and $7,700. During the current pay period, these employees earn $2,800 and $1,900, respectively. The applicable SUTA tax rate is 2.5%, and the…
Under the 1987 Philippine Constitution To compute the income tax due, what are the 2 tax options of individuals earning income from self-employment and/or practice of profession whose gross sales/receipts do not exceed P3,000,000?
Listed below are technical tax terms Normal Tax Year Resident Deductible Allowance Non-Resident Special Tax Year Total Income Salaried Individual Business Individual Taxable Income Worldwide Income Pakistan Source of Income Admitted Income Tax Fill below Blanks from above tax terms. You can use some term twice and leave any term found irrelevant. (Note: Be careful in spellings while typing in provided boxes) is the aggregate of Income chargeable to Tax under each head of Income i.e. Income from Salary; Income from property; Income from business; Capital gains; and Income from Other Sources Is a period of twelve months not ending on 30th day of June. Irrespective of its Nationality, any individual person having physical stay in Pakistan for more than 119 days is call Individuals A person having more than 75% of his income from salary will be term as A represents an amount that directly reduces the total income to arrive at the taxable income…
Which equation could be used to identify one of the following levels of Federal Incomne Tax withholding? PERCENTAGE METHOD FOR FIT WITHHOLDING MARRIED PERSON WEEKLY PAYROLL PERIOD Allowance Rate = $63.46 The amount of FIT withholding is... each w %3D . If he Weekly Taxable Wage any rin Over But not over. $0.00 0.10(income 58) $36.00 + 0.12(income 222) $171.36 + 0.22(income 588) $1 $222 222 588 588 1,117 Select one: O A. FIT = 37.70 + 0.12g; where g = gross pay in dollars. O B. FIT = 36 + 0.22(g - 222); where g = gross pay in dollars. O C. FIT = 171.36g - 129.36; where g = gross pay in dollars. O D. FIT = 36 + 0.12g - 26.64; where g = gross pay in dollars. Outi
how do i compute federal income tax salary gross earnings is $1750.00
Franklin Stewart arrived at the following tax information: Gross salary Interest earnings Eligible dividend income Basic personal amount Union dues Moving expense (58 km for employment) $ 52,00€ 330 128 3,650 8,470 2,950 What amount will Franklin report as taxable income? (Round your answer to the nearest dollar amount. Omit the "S" sign in your response) Taxable income
Franklin Stewart arrived at the following tax information: Gross salary Interest earnings Eligible dividend income Basic personal amount Union dues Moving expense (50 km for employment) $ 47,780 225 100 12,069 3,890 1,150 What amount will Franklin report as taxable income? (Round your answer your response.) Taxable income $
PSb 5-5 Calculate FUTA and SUTA Tax For each of the following independent circumstances calculate both the FUTA and SUTA tax owed by the employer: NO TE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $6,100 and $8,800. During the current pay period, these employees earn $1,450 and $2,000, respectively. The applicable SUTA tax rate is 2.1%, and the Delaware SUTA threshold is $16,500. FUTA tax = $ SUTA tax = $ 2: An employer in Bridgeport, Connecticut, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,500, $12,900, and $14,200. During the current pay period, these employees earn $2,200, $1,950, and $2,400, respectively. The applicable SUTA tax rate is 4.9%, and the Connecticut SUTA threshold is $15,000.…
Problem 1. Mr. ABC, a resident Filipino Citizen, shows his income and expenses during a calendar year: Required:1a. Compute the taxable compensation income during the year assuming that Mr. ABC is a rank-and-file employee. 1b. Compute the table compensation income subject to regular tax during the year assuming that Mr. ABC is a managerial employee. 1c. Compute the total taxable income subject to regular tax during the year assuming that Mr. ABC is a rank-and-file employee. 1d. Compute the total income tax due if Mr. ABC is a rank-and-file employee and he opted to use Optional Standard Deduction. 1e. Compute the total income tax due if Mr. ABC is a rank-and-file employee and he opted to use the 8% preferential tax.
4. What is the due date for tax returns employees and self employed taxpayers in Canada taxation? When istax payable due?5. What is the ditterence between total income net income & taxable income in Canada taxation?6. What records and receipts must be kept in Canada taxation
US Tax System 1.) Darius' net income from self-employment reported on Schedule C is $25,000. Calculate his self-employment tax.