Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help with question 4 a-d For the NMSU health insurance plan, an employee pays $185 per pay period and is paid twice per month.

need help with question 4 a-d image text in transcribed
image text in transcribed
For the NMSU health insurance plan, an employee pays $185 per pay period and is paid twice per month. a. How much in total does the employee pay per year for health insurance? b. If this is 30% of the total cost of the health insurance, what percent does the university pay? c. What is the total cost of the insurance per year? d. How much money does the university pay towards the insurance per year? 4. In the previcus problem, suppose the employees total monthly income is 53,500 . a. What does the employee make in a year? b. The amount the employee pays towards health insurance is tax deducticle. Addrionally. the employee $6,000 per year towards a retirement plan that is tax deductible. What is the employee's income after these deductions? c. If the employee is a head of household, and takes the standard deduction of $19,400, what is their taxable income? d. Use the tax table below to calculate the employee's total income taes: 2022 Heed of Househild Tax Broekets

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

Effective Internal Auditing

Authors: Manuel E. Peña-Rodríguez

1st Edition

1736742922, 978-1736742921

More Books

Students also viewed these Accounting questions

Question

3. Contrast relational contexts in organizations

Answered: 1 week ago

Question

2. Describe ways in which organizational culture is communicated

Answered: 1 week ago

Question

1. Describe and compare approaches to managing an organization

Answered: 1 week ago