Use the information below to answer the following question Rita Franklin is employed at Mighty Ltd. in Jamaica. For the month of June, 2017, she received a gross salary of $60,000. She contributes 5% or her gross salary towards an approved pension scheme. As an employee, her statutory deductions include NIS, NHT and education tax. How much would be deducted for education tax? A.$1248.75 B.$1212.19 C.$1282.50 D.$1417.50

Use the information below to answer the following question Rita Franklin is employed at Mighty Ltd. in Jamaica. For the month of June, 2017, she received a gross salary of $60,000. She contributes 5% or her gross salary towards an approved pension scheme. As an employee, her statutory deductions include NIS, NHT and education tax. How much would be deducted for education tax? A.$1248.75 B.$1212.19 C.$1282.50 D.$1417.50

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

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During the year, employee Sean Matthews earned wages in the amount of 250,000. Discuss how the employees HI tax will differ from the employers HI tax for this employee.
Use the information below to answer the following question Rita Franklin is employed at Mighty Ltd. in Jamaica. For the month of June, 2017, she received a gross salary of $60,000. She contributes 5% or her gross salary towards an approved pension scheme. As an employee, her statutory deductions include NIS, NHT and education tax. What would Rita receive as her net pay? A.$52,882.50 B.$53,051.25 C.$51,462.81 D.$53,017.50
Use the information below to answer the following question Rita Franklin is employed at Mighty Ltd. in Jamaica. For the month of June, 2017, she received a gross salary of $60,000. She contributes 5% or her gross salary towards an approved pension scheme. As an employee, her statutory deductions include NIS, NHT and education tax. What is Rita’s statutory income? A.$53,875 B.$55,500 C.$57,000 D.$63,000
Use the information below to answer the following questions Rita Franklin is employed at Mighty Ltd. in Jamaica. For the month of June, 2017, she received a gross salary of $60,000. She contributes 5% or her gross salary towards an approved pension scheme. As an employee, her statutory deductions include NIS, NHT and education tax. 1. What is Rita’s statutory income? A.$53,875 B.$55,500 C.$57,000 D.$63,000 2. How much would be deducted for education tax? A.$1248.75 B.$1212.19 C.$1282.50 D.$1417.50 3. What would Rita receive as her net pay? A.$52,882.50 B.$53,051.25 C.$51,462.81 D.$53,017.50
Use the information provided to answer following questions Dionne Rose is employed Garden Variety Ltd. in Jamaica. For the month of May, 2017, she received a gross salary of $350,000. She contributes 10% or her gross salary towards an approved pension scheme. As an employee, her statutory deductions include NIS, NHT and education tax. 1. What is Dionne’s NHT contribution? A.$7,000 B.$6,300 C.$6,237.50 D.$9,356.25 2. How much is Dionne’s taxable income? A.$228,519 B.$186,867 C.$189,992 D.$51,867 3. What would be Dionne’s net pay? A.$251,141.06 B.$240,728.06 C.$286,144.06 D.$278,853.06
Use the information provided to answer question Dionne Rose is employed Garden Variety Ltd. in Jamaica. For the month of May, 2017, she received a gross salary of $350,000. She contributes 10% or her gross salary towards an approved pension scheme. As an employee, her statutory deductions include NIS, NHT and education tax. What is Dionne’s NHT contribution? A.$7,000 B.$6,300 C.$6,237.50 D.$9,356.25
Donna Rose is employed Garden varitety ltd in Jamaica. For the month of May 2017, she received a gross salary of 350000. she contributed 10% or her gross salary toward an approved pension scheme. as an employee her statutory deductions include NIS, NHT and education tax. what is Donna taxable income, net pay and NHT?
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Use the 2016 FICA tax rates, shown below, to answer the following question. If a taxpayer is not self-employed and earns $137,000, what are the taxpayer's FICA taxes? Employee's Rates Matching Rates Paid by the Employer Self-Employed Rates 7.65% on first $118,500 of income 1.45% of income in excess of $118,500 7.65% on first $118,500 paid in wages 1.45% of wages paid in excess of $118,500 15.3% on first $118,500 of net profits 2.9% of net profits in excess of $118,500 FICA taxes are ?$
Use the 2016 FICA tax rates, shown below, to answer the following question. If a taxpayer is not self-employed and earns $132,000, what are the taxpayer's FICA taxes? Matching Rates Paid by the Employer Employee's Rates 7.65% on first $118,500 of 7.65% on first $118,500 paid income in wages 1.45% of income in excess of $118,500 1.45% of wages paid in excess of $118,500 Self-Employed Rates 15.3% on first $118,500 of net profits 2.9% of net profits in excess of $118,500 FICA taxes are $ (Type an integer or a decimal. Round to the nearest cent as needed.)