16. Gus is the self-employed owner of Four Paws Pet Supply. His estimated annual earnings are $49,280.00 and he expects to pay 19% of this amount in income tax. What will be his quarterly estimated tax payment for the second quarter? (For self-employed persons, Social Security tax is 12.4% of wages up to $128,400, and Medicare tax is 2.9% of all wages.)

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Q: eorgina has four employees who earned $75,000, $27,000, $2,100, and $6,200 during 2020,…

A: Explanation: FUTA Tax rate = 6% less-Credit of SUTA Tax Rate FUTA Tax rate = 6%-5.4% FUTA Tax rate =…

Q: This year Lloyd, a single taxpayer, estimates that his tax liability will be $13,300. Last year, his…

A: Answer:- Tax liability meaning:- The total amount of taxes owed to taxing authorities, such as the…

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A: There are primarily two models used for computation of federal income tax withholdings, one is with…

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A: Net FUTA Tax rate = FUTA Tax rate - SUTA Tax Rate = 6% - 5.4% = 0.6%

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Q: additional 0.9% Medicare tax

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A: Solution Working- Social security tax = 1000*6.2% = 62 Medicare tax = 1000 * 1.45% = 21.025…

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Q: arried and supports 4.5% of taxable ince ate income tax?

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A:

Q: Sheila Spinney, a recent college graduate, receives a salary of $2976 each month. She pays (3)/(8)…

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A: Given in the question: Prior to payroll check $1,40,000     Weekly Pay $4,100…

Q: (D) $1,024.33

A: The Correct option is D) $1024.33 Detailed Explanations is here as fallows below: Vlad Annual Salary…

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Q: The following information applies to the questions displayed below.] Haru is a self-employed…

A: b) In this case only half of the rate of interest will be deducted. Therefore 0.37 /2 = 0.185.

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Q: This year Lloyd, a single taxpayer, estimates that his tax liability will be $12,100. Last year, his…

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Q: In 2020, Shelly had net earnings from her business of $160,000. What is the amount of Shelly’s…

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Q: PROBLEM: Jose Diaz has a federal tax levy of $4,119.90 against him. If Diaz is single with three…

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