Zebulon is single, earned $2,655 last week, and had year-to-date earnings of $141,344. Use the 2021 tax rates to find Social Security and Medicare deductions.
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Zebulon is single, earned $2,655 last week, and had year-to-date earnings of $141,344.
Use the 2021 tax rates to find Social Security and Medicare deductions.
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- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.Frederick is married, he earned $2,655 last week, and had year-to-date earnings of $141,344. Use the 2021 tax rates to find Social Security and Medicare deductions for the problem.Use the 2021 tax rates to find Social Security and Medicare deductions for the following problem. Philip earned $1589 last week, and had year-to-date earnings of $108,894 for the year.
- Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $11,500. He is single and claims 1 deduction. Before this payroll, Barrett’s cumulative earnings were $128,080. (Social Security maximum is 6.2% on $128,400 and Medicare is 1.45%.) Calculate FIT by the percentage method, as well as the social security taxes and medicare taxes.Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $11,000. He is single and claims 1 deduction. Before this payroll, Barrett’s cumulative earnings were $128,055. (Social Security maximum is 6.2% on $128,400 and Medicare is 1.45%.) Calculate FIT by the percentage method.Grady received $8,200 of Social Security benefits this year. Grady also reported salary and interest income this year. Grady files single and reports a salary of $22,000 and an interest income of $600. What amount of the benefits must Grady include in his gross income? (NOTE: Leave no answer blank. Enter zero if applicable.)
- Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. a. Mario, who is single, earns wages of $386,800.His additional Medicare tax is $ b. George and Shirley are married and file a joint return. During the year, George earns wages of $229,900, and Shirley earns wages of $344,850.Their additional Medicare tax is $ c. Simon has net investment income of $58,000 and MAGI of $290,000 and files as a single taxpayer.Simon's additional Medicare tax is $Pham, single, has wages of $208,000 and net investment income of $140,000 in 2020. Her AGI (MAGI) is $348,000. What is Pham’s additional Medicare tax liability + net investment income tax?Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. a. Mario, who is single, earns wages of $450,600. His additional Medicare tax is $ b. George and Shirley are married and file a joint return. During the year, George earns wages of $242,300, and Shirley earns wages of $363,450. Their additional Medicare tax is $ c. Simon has net investment income of $54,360 and MAGI of $271,800 and files as a single taxpayer. Simon's additional Medicare tax is $
- Grady received $9,040 of Social Security benefits this year. Grady also reported salary and interest Income this year. What amount of the benefits must Grady include in his gross income under the following five independent situations? Note: Leave no answer blank. Enter zero if applicable. Required: a. Grady files single and reports salary of $14,200 and interest income of $460. b. Grady files single and reports salary of $24,310 and interest income of $810. c. Grady files married joint and reports salary of $79,200 and interest income of $710. d. Grady files married joint and reports salary of $44,000 and interest income of $910. e. Grady files married separate and reports salary of $24,310 and interest income of $810. Complete this question by entering your answers in the tabs below. Required A Required C Required D Required E Grady files single and reports salary of $14,200 and interest income of $460. Amount to be included in gross income 19,180 Required B $ Hepaired A Required B >Iris earned $223,824.00 during 2022. Idiris is single and is paid monthly. How much will the employer withhold in Medicare taxes for 2022?Pham, single, has wages of $208,000 and net investment income of $140,000 in 2020. Her AGI (MAGI) is $348,000. What is Pham’s additional Medicare tax liability + net investment income tax? (Note: The answer is not $12,002)