Individual Income Taxes
Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 13, Problem 15CE

Samuel and Annamaria are married, file a joint return, and have three qualifying children. In 2019, they earn wages of $34,000 and no other income. Determine the amount of their earned income credit for 2019.

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Bergen Corporation has an employee earning $8,400 per month. The FICA tax rate for Social Security is 6.2%, and the FICA tax rate for Medicare is 1.45%. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.2%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $320 in federal income taxes withheld. The employee also has voluntary deductions for health insurance of $245 and contributes $180 to a retirement plan each month. What is the employee's net pay for the month of January?
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Individual Income Taxes

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