Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $309,000 this year. His social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and his federal income tax rate is 24%. How much estimated tax (in $) must Marc send to the IRS each quarter?
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- Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $303,000 this year. His social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and his federal income tax rate is 24%. How much estimated tax (in $) must Marc send to the IRS each quarter?Gus is the self-employed owner of Four Paws Pet Supply. His estimated annual earnings are $43,280.00 and he expects to pay 18% of this amount in income tax. What will be his quarterly estimated tax payment for the second quarter? $7,790.40 $3,603.06 $1,655.46 $2,319.00Mark Batchelor a self-employed sales consultant has estimated annual earnings of $303,000 this year his Social Security tax rate is 12.4% up to the wage base Medicare 2.9% and it's federal income tax rate at 24% how much estimated tax in money must Mark send to the IRS each quarter
- What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,160.00, if she has already earned $46,560.00 this year? (Social security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.)Please answer fast I will rate for you sure....Assume that your starting salary will be $55,000 per year, and assume that you have no additional income sources. Also, assume that Federal income taxes are 27% of your gross income, and that there is not any state tax in Texas. What is your monthly net income?
- Shirley Riddle's net biweekly earnings are103.Dr. Josef Young earns an adjusted gross weekly income of $2,517. How much Social Security tax should be withheld the first week of the year? How much Medicare tax should be withheld? The Social Security tax rate is 6.2% from earnings to be taxed to a maximum annual wage of $118,500. The Medicare tax rate is 1.45% from all earnings to a maximum annual wage of $200,000. The Social Security tax is $ (Type an integer or a decimal. Round to the nearest cent as needed.) The Medicare tax is $. (Type an integer or a decimal. Round to the nearest cent as needed.)
- 1. Ms. Evelyn is tax compliance officer at the Bureau of internal revenue earning a monthly salary P35,196.00. How much is Ms. Evelyn's take home pay? 2. Allan S. Gala is a sales representative at a private pharmacy. He is given a monthly rice subsidy of P2,000.00. Over his monthly salary of P24,300.00. How much is his monthly net pay?Ann earns $95,000 per year in salary. She pays 25% federal income tax, 6% state income tax, 6.2% social security, 1.45% medicare, 5% for health insurance, $50 per month for life insurance, $30 per month for dental, and 8% per month for retirement.a. What is her gross monthly salary? b. What is her net monthly salary?Jennifer made $74,900 last year. She pays 6% state income tax, 15% federal income tax, 6.2% for social security,a nd 1.45% for medicare. a. What was her gross monthly income? b.What was her net monthly income?