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Note that this question is different then a previosuly asked question Samantha Montgomery ( age 4 2 ) is employed by Canon Company and is
Note that this question is different then a previosuly asked question
Samantha Montgomery age is employed by Canon Company and is paid an annual salary of $ She has just decided to join the company's Simple Retirement Account IRA form and has a few questions. Answer the following for Montgomery: Round your answer to the nearest cent.
As we go to press, the federal income tax rates for are being determined by budget talks in Washington, and are not available for publication. For this edition, the federal income tax tables for Manual Systems with Forms W from or Later with Standard Withholding and FICA rates have been used.
a What is the maximum that she can contribute into this retirement fund?
$
b What would be the company's contribution?
$
Note: For items c & d below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places.
c What would be her weekly takehome pay with the retirement contribution deducted married filing jointly, wagebracket method, and a state income tax on total wages
Click here to access the WageBracket Method Tables.
d What would be her weekly takehome pay without the retirement contribution deduction?
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