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 = $

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 38P
icon
Related questions
Question

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 date, are $141,700.

Social Security tax = $
Medicare tax = $

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Federal Insurance Contributions Act (FICA)
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
Accounting
ISBN:
9780357391723
Author:
Maloney
Publisher:
Cengage
SWFT Individual Income Taxes
SWFT Individual Income Taxes
Accounting
ISBN:
9780357391365
Author:
YOUNG
Publisher:
Cengage
Individual Income Taxes
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT