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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.A married couple received $11,000 of social security benefits. a. Calculate the taxable amount of those benefits if the couple's provisional income is $24,500. b. Calculate the taxable amount of those benefits if the couple's provisional income is $42,500. c. Calculate the taxable amount of those benefits if the couple's provisional income is $65,000. a. b. " Taxable amount of benefits $ 0Required: A married couple received $9,200 of social security benefits. a. Calculate the taxable amount of those benefits if the couple's provisional income is $20,500. b. Calculate the taxable amount of those benefits if the couple's provisional income is $38,000. c. Calculate the taxable amount of those benefits if the couple's provisional income is $56,000. Taxable amount of benefits a. b. C.
- suppose a certain a government employee earns a cna of 18,000 290 1.0.9 at 13th month pay of 27891 has other group from benefits amounting to 10,000, how much of his benefit s is taxable? How much is non taxable? If his tax is 0.08. How much is his tax and what is his net amount for his benefit?1. The original Social Security tax rate was _____ of taxable earnings. Answer: A. 10% B. 1% C. 5% D. 7% 2. The 2021 Social Security wage base is _____. Answer: A. $100,000 B. $113,700 C. $125,000 D. $142,800 3. What is the earnings threshold over which an employee whose filing status is Married Filing Separately will be subject to the additional Medicare tax? Answer: A. $117,000 B. $125,000 C. $200,000 D. $250,000Use the 2021 FICA tax rates, shown, to answer the following question. If a taxpayer is self-employed and earns $156,000, what are the taxpayer's FICA taxes? Employee's Rates 7.65% on first $142,800 of income 1.45% of income in excess of $142,800 Matching Rates Paid by the Employer 7.65% on first $142,800 paid in wages 1.45% of wages paid in excess of $142,800 Self-Employed Rates 15.3% on first $142,800 of net profits 2.9% of net profits, in excess of $142,800 The FICA taxes are $ (Round to the nearest cent as needed.)
- Compute for the tax due of the following individuals using the RA 10963 tax table. Show computations. 1. An employee with monthly salary of P25,000, monthly allowable deductionsof P1,300, bonus of P25,000 for the year.Taxpayer in 2022 has following amounts: W-2 wages: $125,000 @ 7.65% Sch. C Net income: $125,000 @ 15.30% How much of the correct amount of combined self-employment tax and FICA tax is attributable to the Sch. C Net Income?Compute for the tax due of the following individuals using the RA 10963 tax table. Show computations. 1. An employee with annual salary of P150,000, annual total contributions of P1,000 and bonus of P12,000 for the year.
- compute the tax owed by a single woman with a taxable income of $600,000.Use the 2021 FICA tax rates, shown, to answer the following question. If a taxpayer is not self-employed and earns $149,000, what are the taxpayer's FICA taxes? Employee's Rates Matching Rates Paid by the Employer Self-Employed Rates 7.65% on first $142,800 of 7.65% on first $142,800 paid 15.3% on first $142,800 of net income in wages 1.45% of income in excess 1.45% of wages paid in of $142,800 excess of $142,800 profits 2.9% of net profits in excess of $142,800 + The taxpayer's FICA taxes are $ (Round to the nearest cent as needed.)Use the 2021 FICA tax rates, shown, to answer the following question. If a taxpayer is not self-employed and eams $140,000, what are the taxpayer's FICA taxes? Matching Rates Paid by the Employer Employee's Rates 7.65% on first $142,800 of 7.65% on first $142,800 paid income in wages 1.45% of income in excess of $142,800 1.45% of wages paid in excess of $142,800 The taxpayer's FICA taxes are $ (Round to the nearest cent as needed.) RTLA Self-Employed Rates 15.3% on first $142,800 of net profits 2.9% of net profits in excess of $142,800