Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Natalia is a full-time exempt employee who earns $213,000 annually, paid monthly. Her year-to-date pay as of November 30 is $195,250.00. How much will be

Natalia is a full-time exempt employee who earns $213,000 annually, paid monthly. Her year-to-date pay as of November 30 is $195,250.00. How much will be withheld from Natalia for FICA taxes for the December 31 pay date?(Social Security maximum wage is $132,900. Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Multiple Choice

  • $374.38
  • $1,357.88
  • $417.13
  • $289.33

___________________________________________

Wyatt is a full-time exempt music engineer who earns $176,400 annually and is paid semimonthly. As of November 15, his year-to-date gross pay was $131,800.00. How much will be withheld for FICA taxes for the November 30 pay date?(Social Security maximum wage is $132,900. Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Multiple Choice

  • $206.68
  • $246.05
  • $157.43
  • $174.78

___________________________________________________________________

Amity is an employee with a period gross pay of $2,400.00. She elects to have 5.00% of her gross pay withheld for her 401(k) contribution. What will be her taxable income be for Federal income taxes?

Multiple Choice

  • $2,220.00
  • $2,280.00
  • $2,340.00
  • $2,400.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Microeconomics

Authors: Douglas Bernheim, Michael Whinston

2nd edition

73375853, 978-0073375854

Students also viewed these Accounting questions