Business
Business, 15.04.2021 03:20, kemzzoo9338

Use the following info for this and the next three questions. Input your answers as PER PAY CHECK amounts (not annual). Final pay day of the year Scott is married and his wife earns about $44,000 a year. He indicates $2,500 on line 3 of his W4. He is paid semi-monthly and earns $2,800/check. Assume he had a large bonus mid year and has currently earned $138,000 this year in taxable Social Security income. He has a high deductible Insurance plan and contributes $150 into the HSA (Health Savings Account). He pays $200 for Med. Prem. and $150 into his 401K each pay period. He contributes $50 to Red Cross as well. The ER pays 100 into his 401K, $50 into Life Ins. And $200 into Medical. How much in wages will be taxed for Federal income tax?

Using the information above Input your answers as PER PAY CHECK amounts (not annual). How much in wages will be taxed for Social Security?

Using the information above... Input your answers as PER PAY CHECK amounts (not annual). How much in wages will be taxed for Medicare?

Using the info above, assume Scott's federal taxable wages is $2,050 (which it may or may not be the answer). Determine how much Federal Income tax should be withheld.

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Answers: 3

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