Rabbi Hirsch received $60,640 in ministerial earnings, which included income reported on the Form W-2 shown below, and $10,760 in self-employment income for performing weddings. How much of his income is included for purposes of calculating federal income tax? (Answer choices are below the image.) b Employer identification number (EIN) XX-XXXXXXX e Employer's name, address, and ZIP code CONGREGATION EMANU-EL 1613 TITUS AVENUE YOUR CITY, YS XXXXX d Control number a Employee's social security number XXX-XX-XXXX e Employeo's first name and initial MICHAEL HIRSCH 602 EAST 36TH STREET YOUR CITY, YS XXXXX 1 Employee's address and ZIP code 15 State Employer's state ID number YS YSXXXXXXXXX ********* O $38,000 O $48,760 O$58,000 $68,760 Last name Form W-2 Wage and Tax Statement Copy B-To Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service Sefe, accurate, OMB No. 1545-0008 FAST! Use 1 Wages, tips, other compensation 38,000.00 3 Social security wages 5 Medicare wages and tips 7 Social security tips 9 Suff, 11 Nonqualified plans 13 y Petrement employe 14 Other 16 State wages, tips, etc. 17 State income tax 38,000.00 0.00 Refile www.irs.govletin 2023 0.00 0.00 PARSONAGE $20,000 THIS-Day sick pay 2 Foderal income tax withheld 0.00 4 Social security tax withheld 0.00 0.00 Visit the IRS website at 6 Modicare tax withheld 8 Allocated tips 10 Dependent care benefits 12a See instructions for box 12 12b 12c 12d 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Department of the Treasury-Internal Revenue Service

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

1

nou
10
Rabbi Hirsch received $60,640 in ministerial earnings, which included income reported on the Form W-2 shown below, and
$10,760 in self-employment income for performing weddings. How much of his income is included for purposes of
calculating federal income tax? (Answer choices are below the image.)
b Employer identification number (EIN)
XX-XXXXXXX
c Employer's name, address, and ZIP code
CONGREGATION EMANU-EL
1613 TITUS AVENUE
YOUR CITY, YS XXXXX
d Control number
a Employee's social security number
XXX-XX-XXXX
e Employco's first name and initial
MICHAEL HIRSCH
602 EAST 36TH STREET
YOUR CITY, YS XXXXX
f Employee's address and ZIP code
15 State Employer's state ID number
YS YSXXXXXXXXX
$38,000
O $48,760
$58,000
$68,760
Last name
W-2 Wage and Tax Statement
Form
Copy B-To Be Filed With Employee's FEDERAL Tax Return.
This information is being furnished to the Internal Revenue Service.
Sefo, accurate,
OMB No. 1545-0008 FAST! Use
1 Wages, tips, other compensation
38,000.00
3 Social security wages
5 Medicare wages and tips
7 Social security tips
9
Suff. 11 Nonqualified plans
13 Sy
engleyin
14 Other
16 State wages, tips, etc. 17 State income tax
38,000.00
0.00
Se file
Petrement
2023
0.00
0.00
PARSONAGE $20,000
Thid-party
sick pay
2 Foderal income tax withheld
0.00
Veit the IRS website af
www.irs.govfefio
4 Social security tax withheld
0.00
0.00
6 Modicare tax withheld
8 Allocated tips
10 Dependent care benefits
12a See instructions for box 12
1
12b
3
12c
12d
18 Local wages, tips, etc. 19 Local income tax
20 Locality name
Department of the Treasury-Internal Revenue Service
Transcribed Image Text:nou 10 Rabbi Hirsch received $60,640 in ministerial earnings, which included income reported on the Form W-2 shown below, and $10,760 in self-employment income for performing weddings. How much of his income is included for purposes of calculating federal income tax? (Answer choices are below the image.) b Employer identification number (EIN) XX-XXXXXXX c Employer's name, address, and ZIP code CONGREGATION EMANU-EL 1613 TITUS AVENUE YOUR CITY, YS XXXXX d Control number a Employee's social security number XXX-XX-XXXX e Employco's first name and initial MICHAEL HIRSCH 602 EAST 36TH STREET YOUR CITY, YS XXXXX f Employee's address and ZIP code 15 State Employer's state ID number YS YSXXXXXXXXX $38,000 O $48,760 $58,000 $68,760 Last name W-2 Wage and Tax Statement Form Copy B-To Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. Sefo, accurate, OMB No. 1545-0008 FAST! Use 1 Wages, tips, other compensation 38,000.00 3 Social security wages 5 Medicare wages and tips 7 Social security tips 9 Suff. 11 Nonqualified plans 13 Sy engleyin 14 Other 16 State wages, tips, etc. 17 State income tax 38,000.00 0.00 Se file Petrement 2023 0.00 0.00 PARSONAGE $20,000 Thid-party sick pay 2 Foderal income tax withheld 0.00 Veit the IRS website af www.irs.govfefio 4 Social security tax withheld 0.00 0.00 6 Modicare tax withheld 8 Allocated tips 10 Dependent care benefits 12a See instructions for box 12 1 12b 3 12c 12d 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Department of the Treasury-Internal Revenue Service
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Federal Insurance Contributions Act (FICA)
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education