Samantha makes $28.00 per hour and is paid for a 40 hour work week. She pays 15% federal income tax, 6.2% social security, 1.45% medicare, and she lives in a state with no state income tax. She pays 3% of her gross income for health insurance and pays $25.00 per month for life insurance. What is her gross annual salary? What is her gross monthly salary? What is her net monthly salary?

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A: The objective of this question is to calculate the Social Security tax and Medicare tax that Adam,…

Q: 3. What percentage of Mary’s income does she spend on health insurance

A: Here we have, Mary`s bi monthly income = $468Mary`s bi monthly health insurance =$26.54

Q: If Austin is self-employed and makes $5,100.00 semimonthly, compute her total social security and…

A: Introduction: A tax is a mandatory fee or financial charge levied by the government on an individual…

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Q: Adriana's income last year was $56,700. If Medicare is taxed at a rate of $1.45 tax per $100 earned,…

A: Medicare Tax is tax paid on the portion of medicare. It is used to provide health insurance to older…

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Q: Ramon Alvarez, of Nome, Alaska, signed up for his employer's flexible spending account plan…

A: Ans.10) Subpart 1) The percentage of income tax = federal + state = 15% + 9% = 24% Income tax saved…

Q: Jessica makes $24,000 a year, but receives weekly paychecks. If 12% of her checks is withheld for…

A: Gross pay = Total annual pay /no of pay periods Total deduction /withholding =Federal tax +FICA…

Q: Julie paid $3,300 to the day care center and her AGI is $401,200.  What amount of child and…

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Q: Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions…

A: The "tax withholding" describes the amount of income tax that is withheld from an individual's wages…

Q: Emilia (43) contributed $225 per month to a self-only health savings account (HSA) through her…

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Q: Carla Vista Company reported the following amounts for 2022: Raw materials purchased Beginning Raw…

A: Raw materials is the amount of materials used for production purpose. It can be direct or indirect…

Q: Jennifer made $74,900 last year. She pays 6% state income tax, 15% federal income tax, 6.2% for…

A: Gross monthly income is the amount that is paid by an employer to the employee monthly before…

Q: 4. John McDonald is employed by Lee & Sterling. He is married, claims two withholding allowances,…

A: Hourly rate for standard time: $16.97 Hourly rate for overtime : $16.97 x 1.50 = $25.46 Standard…

Q: Isabelle's hourly rate is $21.25. She worked 40 hours. Her deduction for federal income tax is based…

A: Gross pay= 40 hours * $ 21.25 = $ 850

Q: Jing's husband Mike has always lived in Canada. He is 67 years old and has a net income of $100,000.…

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Q: What is Leah’s total annual compensation?

A: The total annual compensation of Leah would consists of annual salary plus employer's contribution.…

Q: Phillip and Naydeen Rivers are married with two dependent children. The family has household income…

A: To calculate the Rivers' premium tax credit, we need to compare their household income to the…

Q: 2) Jon started a new job and wants to verify her net pay has been computed correctly. Her gross pay…

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Q: enny, who is married and the mother of three, is 25 years old and expects to work until 70. She…

A: The life insurance is a protection for family members of insured as they received the insurance…

Q: If Julia, age 65 and self employed paid 380.00 per month for health ins, how much can she deduct if…

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Q: Compute the additional Medicare tax for the following taxpayers. If required, round your answers to…

A: Medicare tax is a tax that is deducted from the paybacks of people to cover medicare expenses.…

Q: Richard Gaziano is a manager for Health Care, Incorporated. Health Care deducts Social Security,…

A: Answer:-  Net pay meaning:- Net pay is the term used to describe the take-home pay that an employee…

Q: Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare,…

A: Net pay refers to the total sum value of money an individual receives on his/her pay check after all…

Q: Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare,…

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

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Q: Pam​ Trim's monthly net earnings are

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Q: Child and dependent care credit $

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Q: Lara is 25 and lives in Edmonton, Alberta. She works for Nordegg Tech and earns a yearly salary of…

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Q: Mayra is single and a mom of a 2 year old child. Erin has net taxable income and salary of $45,000…

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Q: For self-employed persons, social security tax is 12.4% of wages up to $128,400, and Medicare tax is…

A: Social security tax refers to the amount that is paid to the general government that is entitled…

Q: Helen Meyer receives a travel allowance of $210 each week from her company for time away from home.…

A: Please find the calculation of taxes on employee benefits in step 2 below.

Q: Kevin Jones, of Elon, North Carolina, is single and recently graduated from law school. He is…

A: Data given: Salary=$9,100 Federal income tax=$1,700 state income taxes=$520  Medicare and Social…

Q: Ann earns $95,000 per year in salary. She pays 25% federal income tax, 6% state income tax, 6.2%…

A: The question is based on the calculation of gross monthly income and net monthly income . Net income…

Q: Helen Meyer receives a travel allowance of $160 each week from her company for time away from home.…

A: Given information: Travel allowance per week = $160 Applicable income tax rate = 15%

Q: Shirley Riddle earns $2,338 biweekly. She is single and claims no withholding allowances. She saves…

A: Net earnings = Gross earnings - savings for retirement - insurance premium - social Security tax -…

Consumer Credit Counseling Services

Credit counseling teaches consumers about credit, budgeting, money management, and debt management. The counselor ensures that consumers can pay off their debts without declaring bankruptcy. Counselors also assist the negotiator, who negotiates with creditors on behalf of their clients to reduce interest rates on outstanding debt. Counselors can offer credit counseling to customers before or after they take on debt. Consumer Credit Counseling Services (CCCS) is a non-profit organization that offers credit counseling services. Some organizations can also be for profit. This type of organization comprises a group of professionals who are skilled negotiators.