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Use the following information to answer questions 1 - 3 : James is a software developer that lives and works in Atlanta, Georgia. He has
Use the following information to answer questions :
James is a software developer that lives and works in Atlanta, Georgia. He has
a gross annual salary of $ He contributes of his gross salary to his
k retirement account. His employer deducts $ per year for health
insurance. James also paid $ in student loan interest this year and takes
the standard deduction on his tax returns. He has no Georgiaspecific
additions or deductions to the income reported on his state tax return.
Question What is James's FICASocial Security tax liability in other words,
how much will James owe for social security payroll taxes
QUESTION what is james effective tax rate for federal income taxes only?
QUESTION What is James state taxable income for Georgia income taxes
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