Parts a-c B. Calculate your income tax assume you are single with no dependence have no adjustments or tax credit and you take the standard dedication? C. Including both FICA and income tax, what % of your
Parts a-c B. Calculate your income tax assume you are single with no dependence have no adjustments or tax credit and you take the standard dedication? C. Including both FICA and income tax, what % of your
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Parts a-c B. Calculate your income tax assume you are single with no dependence have no adjustments or tax credit and you take the standard dedication?
C. Including both FICA and income tax, what % of your gross income are your federal taxes?
![In 2016, to help pay for college, you worked part-time at a local restaurant, earning $30,000 in wages and tips. Use the following information to complete parts (a)
through (c) below.
For people who are not self-employed, the
2016 FICA tax rates were as follows:
2016 Marginal Tax Rates, Standard
Deductions, and Exemptions
7.65% on the first $118,500 from wages
and tips
1.45% on income in excess of $118,500
Tax Rate
Single
10%
up to $9275
$9276 to $37,650
$6300
15%
Taxpayers are not permitted to subtract
adjustments, exemptions, or deductions
when determining FICA taxes.
Standard Deduction
Exemptions (per person) $4050
Contents
a. Calculate your FICA taxes.
nch
The FICA taxes are $
(Type an integer or a decimal. Round to two decimal places as needed.)
or Success
nedia Library
Clear all
Check answer
View an example
Get more help -
Help me solve this
for Success
iblo Resources](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff06e3180-df2a-49a4-adb6-51962540327e%2F7f28c878-b5a8-4d26-9ca9-eb8e75030450%2Fmy6rukrw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In 2016, to help pay for college, you worked part-time at a local restaurant, earning $30,000 in wages and tips. Use the following information to complete parts (a)
through (c) below.
For people who are not self-employed, the
2016 FICA tax rates were as follows:
2016 Marginal Tax Rates, Standard
Deductions, and Exemptions
7.65% on the first $118,500 from wages
and tips
1.45% on income in excess of $118,500
Tax Rate
Single
10%
up to $9275
$9276 to $37,650
$6300
15%
Taxpayers are not permitted to subtract
adjustments, exemptions, or deductions
when determining FICA taxes.
Standard Deduction
Exemptions (per person) $4050
Contents
a. Calculate your FICA taxes.
nch
The FICA taxes are $
(Type an integer or a decimal. Round to two decimal places as needed.)
or Success
nedia Library
Clear all
Check answer
View an example
Get more help -
Help me solve this
for Success
iblo Resources
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
![Elementary Statistics: Picturing the World (7th E…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
![Introduction to the Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman