Solve the following problem using 6.2%, up to $117,000, for social security tax and 1.45%, no wage limit, for Medicare tax.   What are the social security and Medicare withholdings for an executive whose annual gross earnings are $126,870? Round to the nearest cent when necessary.   Social security: $ Medicare: $

You are currently making $70,000 a year after taxes and are interested in maintaining your current income.  If you are expecting $2,500 a month from Social Security, how much will you need to withdraw from you retirement accounts monthly?

Diana's gross earnings were $589. She is single and claims two allowances. Find the deductions for her federal withholding taxes for this pay period.

A graduating college student owes $41,866 for a student loan. The loan charges an APR of 4.2%. What is the monthly payment required to pay off this loan in 25 years?

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?