Calculate the Health and Post-Secondary Education Tax
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- Use (a) the percentage method and (b) the wage - bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2024 are being determined by budget talks in Washington, and are not available for publication. For this edition, the 2023 federal income tax tables for Manual Systems with Forms W-4 From 2020 or Later with Standard Withholding and 2023 FICA rates have been used.Amount to Be withheldFind the tax owed on a purchase of $183.11 if the state sales tax rate is 6%.Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. Use the 2020 Federal income taxes tables for the percentage method table and the wage bracket method table
- If provincial tax rates are 16% on the first $40,100; 20% on the next $40,100; and 24% on any income after that. If a resident had income of $65,000 then determine the total tax paid. Select one: a. $11,396 b. $13,228 c. $13,988 d. $14,398 e. $13,288 ???You received $5,000 in interest revenue during the year. Your federal marginal tax rate was 26% and average tax rate was 20%. How much federal income taxes did you pay? Select one: a. $1,300 b. $1,650 c. $950 d. $1,450 e. $3,300You [The following information applies to the questions displayed below.] The following summary data for the payroll period ended December 27, 2021, are available for Cayman Coating Company: Gross pay $ 100,000 FICA tax withholdings ?question mark Income tax withholdings 15,150 Group hospitalization insurance 1,580 Employee contributions to pension plan ?question mark Total deductions 26,673 Net pay ?question mark Additional information: For employees, FICA tax rates for 2021 were 7.65% on the first $142,800 of each employee’s annual earnings. However, no employees had accumulated earnings for the year in excess of the $142,800 limit. For employers, FICA tax rates for 2021 were also 7.65% on the first $142,800 of each employee’s annual earnings. The federal and state unemployment compensation tax rates are 0.6% and 5.4%, respectively. These rates are levied against the employer for the first $7,000 of each employee’s annual earnings. Only $15,700 of the gross…
- Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2023 are being determined by budget talks in Washington, and are not available for publication. For this edition, the 2022 federal income tax tables for Manual Systems with Forms W-4 from 2020 or Later with Standard Withholding and 2022 FICA rates have been used. Click here to access the Percentage Method Tables Click here to access the Wage-Bracket Method Tables Amount to Be Withheld Filing No. of Withholding Gross Wage Employee Status Allowances or Salary Method Percentage Wage-Bracket Method Lennon, A. N/A $675 weekly Stan, P. S N/A 1,365 weekly McNeil, S. HH N/A 1,775 biweekly Harrison, W. HH N/A 2,500 semimonthly Smythe, M. MFJ N/A 5,380 monthlyUse (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2024 are being determined by budget talks in Washington, and are not available for publication. For this edition, the 2023 federal income tax tables for Manual Systems with Forms W-4 From 2020 or Later with Standard Withholding and 2023 FICA rates have been used. Click here to access the Wage-Bracket Method Tables. Click here to access the Percentage Method Tables. Employee Louis, S. Hanks, X. Gillespie, H. Tromley, P. Farley, R. Filing Status S S MFJ MFJ MFJ No. of Withholding Allowances N/A N/A N/A N/A N/A I Gross Wage or Salary $1,040 weekly 1,910 weekly 1,890 biweekly 2,315 semimonthly. 3,200 monthly Amount to Be Withheld Percentage Method 00000 Wage-Bracket MethodThe government of Lesotho charges 10% on income up to M75 000 plus 16% any amount over M70 000 up M300 000 and 26% of any amount over M300 000. Express the above as a tax function. Find the income tax for an income of M125 000. Compute the income tax of an income of M350 000.
- If 9% is deducted from Jacobs annual pay $1,035 to pay for state taxes, then how much is deducted ?Given the following information, determine the total average tax rate for a BC resident earning $100,000 in employment income. Tax Rates Tax Brackets Federal 15.00% Up to $43,953 22.00 43,954−87,907 26.00 87,908−136,270 29.00 136,271 and over British Columbia 5.05% Up to $ 40,120 9.15 40,121−80,242 11.16 80,243−150,000 12.16 150,001−220,000 13.16 220,001 and over Multiple Choice 15% 37.16% 20.05% 42.16% 27.31% Show the steps pleaseDog