Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Haley made 88,000 in 2021. How much did she pay in total FICA taxes? (2 points) 2. Diane made $269,000 in 2021. How much
1. Haley made 88,000 in 2021. How much did she pay in total FICA taxes? (2 points) 2. Diane made $269,000 in 2021. How much did she pay in FICA taxes? (2 points) 3. Bob and John both work for Amazon. They both make $48,000 and they also each have $2300 a year in child care expenses. Bob deposits $1600 a year into a dependent care flexible spending account while John does not. They both have a tax rate of 16%. How much does Bob save vs. Johnl in a given year? (3 points) 4. Pete works for a company that provides him health insurance on non-contributory basis. His employer spends $4,300 on this health insurance. What is the pre-tax salary equivalent of this tax free benefit if his tax rate is 13%? (3 points) 1. Haley made 88,000 in 2021. How much did she pay in total FICA taxes? (2 points) 2. Diane made $269,000 in 2021. How much did she pay in FICA taxes? (2 points) 3. Bob and John both work for Amazon. They both make $48,000 and they also each have $2300 a year in child care expenses. Bob deposits $1600 a year into a dependent care flexible spending account while John does not. They both have a tax rate of 16%. How much does Bob save vs. Johnl in a given year? (3 points) 4. Pete works for a company that provides him health insurance on non-contributory basis. His employer spends $4,300 on this health insurance. What is the pre-tax salary equivalent of this tax free benefit if his tax rate is 13%? (3 points)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started