Question
Jan has two jobs during 2015. One employer withheld and paid FICA taxes on $70,000 of Jans salary, and the other employer withheld and paid
Jan has two jobs during 2015. One employer withheld and paid FICA taxes on $70,000 of Jans salary, and the other employer withheld and paid FICA taxes on $49,200 in salary paid to Jan.
Calculate the amount of Jans overpayment of FICA taxes that he should claim on his 2015 Form 1040.
| A. | $43.40 excess Social Security tax |
| B. | $932.40 excess Social Security tax |
| C. | None of the choices |
| D. | $200 excess Social Security tax |
| E. | $1,688.40 excess Social Security tax |
Sophie is a single taxpayer. For the first payroll period in October 2015, she is paid wages of $3,275.00 monthly. Sophie claims 3 allowance on her W-4.
b. Use the withholding tables to determine the amount of Sophie's withholding for the same period.
| A. | $272.00 |
| B. | $247.07 |
| C. | $258.00 |
| D. | $275.00 |
| E. | None of the choices. |
| F. | $259.66 |
12. Which of the following employees wouldnotbe exempt from the FICA and Medicare taxes on wages paid for household work?
| A. | The taxpayer's 16-year-old sister |
| B. | The taxpayer's wife |
| C. | The taxpayer's 20-year-old daughter |
| D. | The 14-year-old babysitter from down the street |
Sophie is a single taxpayer. For the first payroll period in October 2015, she is paid wages of $3,275 monthly. Sophie claims three allowance on her W-4.Usethe percentage methodto calculate the amount of withholding for a monthly pay period.
Calculate the withholding from the percentage table in appendix C.
| A. | $291.25 |
| B. | $274.07 |
| C. | $247.47 |
| D. | None of the choices |
| E. | $256.77 |
| F. | $273.36 |
| G. | $261.23 |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
