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4. (10 points) Janice Tax, an accountant for Shakopee Corporation, has earned $102,700 so far this year (January 1-June 30). In July, Janice earned
4. (10 points) Janice Tax, an accountant for Shakopee Corporation, has earned $102,700 so far this year (January 1-June 30). In July, Janice earned $16,000. Assume a tax rate of 6.2% for Social Security on $110,100 and 1.45% for Medicare. Compute Janice's taxable Social Security Income and Medicare Income and how much is the July tax for Social Security and Medicare? 5. (10 points) Barry Katz cams $990 per week. He is married and claims three exemptions. What is Barry's income tax for this week using the percentage method (Tables 9.1 & 9.2, page 250)?
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