Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 14, 2024

4. How would you calculate the take home for someone's take home salary per month. Include Federal taxes (assume single status), state taxes of 10%

4. How would you calculate the take home for someone's take home salary per month. Include Federal taxes (assume single status), state taxes of 10% for NC, 6% towards retirement, 4% total to social security and Medicare.

Rate For Unmarried Individuals, Taxable Income Over

10% $0

12% $9,700

22% $39,475

24% $84,200

32% $160,725

35% $204,100

37% $510,300

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

Recommended Textbook for

Between The Lines Of The Balance Sheet The Plain Mans Guide To Published Accounts

Authors: Michael Greener

2nd Edition

0080240712, 9780080240718

More Books

Students also viewed these Accounting questions

Question

★★★★★

Bonnie is married and has 1 child. She owns Bonnie's Rib Joint, which produces a taxable income of approximately $120,000 per year. a. Assume that Bonnie's taxable income is $40,000 without...

Answered: 1 week ago

Question

★★★★★

A 2.5-cm-OD hot steam line at 100?C runs parallel to a 5.0 cm OD cold water line at 15?C. The pipes are 5 cm center to center and deeply buried in concrete with a thermal conductivity of 0.87 W/(m...

Answered: 1 week ago

Question

★★★★★

=+c) Should Shawn purchase the long-range predictions?

Answered: 1 week ago

Question

★★★★★

Lyon Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Instructions (a) Determine the ending inventory under a...

Answered: 1 week ago

Question

★★★★★

On Dec 31, 2014, BiWheels company had the following account balance. In January 2012, the company made the following transactions. Use the accounts in the balance sheet (plus revenue and expense...

Answered: 1 week ago

Question

★★★★★

(10 points) Consider the following 4-stock portfolio: Stock Investment Beta $100,000 1.50 $150,000 -0.25 $250,000 1.25 $500,000 0.75 A B C D The market required rate of return is 12 percent and the...

Answered: 1 week ago

Question

★★★★★

for many of its soup and casserole items. The per-bag purchase cost of all bags received in January was $30. Use the following information to calculate the value of ground beet The Pleasant Meadows...

Answered: 1 week ago

Question

★★★★★

Interest Accruals Adjusting Entries Practice Set A. XYZ, Inc., a corporation in the film industry, made a short-term loan to one of their employees an aspiring actor, Johnny Debt. The note was made...

Answered: 1 week ago

Question

★★★★★

What experience you have with computers and taking online courses. Are you ready to get certified in Network , and how might doing so help you with a future job and/or career

Answered: 1 week ago

Question

★★★★★

Doyen Constructions Pty Ltd is a multinational construction and property investment company based in Sydney. After failure to make profits from a number of construction projects with major commercial...

Answered: 1 week ago

Question

★★★★★

Take notes throughout the ELO then complete the following questions that apply to your selected event. (you can develop your own questions that explain your experience attending the event) 1. Explain...

Answered: 1 week ago

Question

★★★★★

Describe statutory rights, contractual rights, due process, and the legal implications of those rights.

Answered: 1 week ago

Question

★★★★★

Discuss the meaning of discipline and how to investigate a disciplinary problem.

Answered: 1 week ago

Question

★★★★★

Outline the differences between progressive and positive discipline.

Answered: 1 week ago

Previous Question Next Question