Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Risk Sharing Finance

Authors: Bakkali Mirakhor, Saad Abbas

1st Edition

ISBN: 3110590468, 978-3110590463

More Books

Students also viewed these Finance questions

Question

How can we assess the strength of the conclusions?

Answered: 1 week ago

Question

1. Identify six different types of history.

Answered: 1 week ago

Question

2. Define the grand narrative.

Answered: 1 week ago

Question

4. Describe the role of narratives in constructing history.

Answered: 1 week ago