Suppose Alexa has a weekly paycheck with gross earnings of $1,234.00 and is single with no dependents. Calculate her Federal Withholding Tax for the pay period using the percentage method.
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Suppose Alexa has a weekly paycheck with gross earnings of $1,234.00 and is single with no dependents. Calculate her Federal Withholding Tax for the pay period using the percentage method.
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- Lisa records nonrefundable Federal income tax credits of 65,000 for the year. Her regular income tax liability before credits is 190,000, and her TMT is 150,000. a. What is Lisas AMT? b. What is Lisas regular income tax liability after credits?Suppose Alexa has a weekly paycheck with gross earnings of $1,234.00 and is single with no dependents. a. Calculate her Federal Withholding Tax for the pay period using the Wage Bracket Method. b. Find Alexa’s net pay, in addition to all mandatory deductions, she has union dues of $5.00, she has both medical and dental insurances and she has a cafeteria plan contribution of $15.00.Using the combined wage bracket tables, what is the total amount of income tax to be withheld from Bryan Andrus's weekly paycheck of $945 if he is married and claims three withholding allowances?
- Grace Kelly earns $2,000 per week. She is married and claims two exemptions. What is Grace's income tax? Use the percentage method.Calculate the Federal and Provincial Income Tax for an individual who’s single with no kids and has an annual taxable income of $115,000? What’s the final tax payable for this individual?Susan, who is a qualifying widow, has a monthly gross income of $5,750.78 Calculate her net earnings if she has the following withheld from her paycheck: Social Security, Medicare, State Withholding Tax of 4.95%, Federal Withholding Tax using the Percentage Method. She also makes a $150.00 contribution monthly to the USO.
- A surviving spouse with one dependent child has a gross income of 68,170 per year. If 3,000 is withheld from the taxpayers wages for federal income taxes, what is the amount of the taxpayers refund or tax due?Use the following federal tax table for biweekly earnings of a single person to help answer the question below. Emeril has gross biweekly earnings of $784.21. By claiming 1 more withholding allowance, Emeril would have $13 more in his take home pay. How many withholding allowances does Emeril currently claim? a. 3 b. 4 c. 5 d. 6Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and had a take-home pay of $499.00 this week, how much would her employer take from her pay to satisfy part of the tax levy?Round your intermediate calculations and answer to the nearest cent.$_________
- Grace Kelley earns $2,000 per week. She is married and claims 2 exemptions. What is Grace’s income tax? Use the percentage method (Use Table 7.1 and Table 7.2). (Round your final answer to the nearest cent.)Use the percentage method of income tax calculation to complete the payroll roster ( in $). David Grange is married and claims 4 withholding allowances. If he paid biweekly and earns $1,844 per period, use the percentage method to find his income tax withholding each pay period. Round your answer to the nearest cent.For the person below, calculate the FICA tax and income tax to obtain the total tax owed. Then find the overall tax rate on the gross income, including both FICA and income tax. Assume that the individual is single and takes the standard deduction. A womanearned a salary of $27,000 and received $1000 in interest. Tax Rate Single 10% up to $9325 15% up to $37,950 25% up to $91,900 28% up to $191,650 33% up to $416,700 35% up to $418,400 39.6% above $418,400 Standard deduction $6350 Exemption (per person) $4050 Let FICA tax rates be 7.65%on the first $127,200 of income from wages, and 1.45% on any income from wages in excess of $127,200. Her income tax is $_____.
