Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

yu Susan earns 55$ per hour for 37.5 hours per week and works 40 weeks a year. She also works 30 hours extra bi-weekly for

image text in transcribed
yu Susan earns 55$ per hour for 37.5 hours per week and works 40 weeks a year. She also works 30 hours extra bi-weekly for the same 40 weeks which is paid to her as time and a hall a) How much money does she earn annually? b) If her salary is given to her bi-weekly over the entire year, how much does money does she receive in each pay cheque? c) Calculate the amount tax she should pay to the government. Explain each section in details Use this table for taxes Federal tax rates for 2020 15% on the first $48,535 of taxable income, plus 20.5% on the next $48,534 of taxable income (on the portion of taxable income over 48,535 up to $97,069), plus 26% on the next $53,404 of taxable income (on the portion of taxable income over $97,069 up to $150,473), plus 29% on the next $63,895 of taxable income (on the portion of taxable income over 150,473 up to $214,368), plus 33% of taxable income over $214,368

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_2

Step: 3

blur-text-image_3

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

Meetings Expositions Events And Conventions An Introduction To The Industry

Authors: George Fenich

5th Edition

0134735900, 9780134735900

More Books

Students also viewed these Finance questions