Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show work please and thank you! Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for Social Security, Medicare, and

Show work please and thank you!
image text in transcribed
image text in transcribed
image text in transcribed
Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for Social Security, Medicare, and Federal Income Tax withholding (FIT) may be incorrect Larren is paid a salary of $3,500 weekly. She is married, claims 2 deductions, and prior to this payroll check, has total earnings of $128,310. What are the correct deductions for Social Security, Medicare, and FIT? Assume a rate of 62% on 5128.400 for Social Security and 1,45% for Medicare. (Use Table 91 and Table 9.2) (Round your answers to the nearest cent) Deductions Social Security taxes Medicare laxes FIT Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of the payroll period) One Withholding Allowance $ 79.80 159.60 172.90 345.80 1,037.50 2,075,00 4,100.00 16.00 S2 Percentage Method Tables tor Income Tax Withholding (For Ysges Puld in 2010) TABLET-WEEKLY Puyol Period SINGLE person read hood MAREDO DOM POUR V90 IS SO 10 ww 2000 2009 mort The main There wilde w wings NOS Now Over But now es Ver Over But 171 891 $14 IS S11 - SOUS - tars 5:13 2011 31.350 -100 -0.00 AN $3,100 - 1017 100 - SORED -1001 014-11 1200 2007 DOI TABLE 2-WEEKLY Pro Period () OLE prono (0) MAND remonto wwws Theo NOOSI Over BOG of over of GO IN -315 31 -IT 015 50018 AL TO si 20 517122 $15 -2 37355 -10.17 BE 735 SIE $10.00 55757 310511 26 TABLE - BIWEEKLY Paro Prod SINGLE MARED toto wa Theo wing Die BUG of Eco - ofessor 100 - - op BLITT -5.35 11 . - 154 RT -- $123 200 SEK 12.00 31 TADLES-BEMIMONTHLY OU W 05/19 OCES DE BURI up OS ISIS SES COCUS - VETERUS LOTE BER ( SINGLE more DO Then DONG Navis Ovu - 11 190 IS COS 1300 ES ON w 10 150ER TARE - MONTHLY w ON Ove Son . OG DIE ES Ou 500 -1, -710 - - ODE 45 S. 1 -610 SET EVID WSW 14 SH

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

Public Finance

Authors: Harvey Rosen, Ted Gayer

10th edition

9781259716874, 78021685, 1259716872, 978-0078021688

More Books

Students also viewed these Finance questions

Question

Show the properties and structure of allotropes of carbon.

Answered: 1 week ago

Question

LO6.1 Discuss price elasticity of demand and how it is calculated.

Answered: 1 week ago