Rory earns $60,000 per year as a college professor. Latesia is a marketing executive with a salary

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Rory earns $60,000 per year as a college professor. Latesia is a marketing executive with a salary of $120,000. With respect to the Social Security tax, what are Rory's and Latesia's

a. Total taxes?

b. Marginal tax rates?

c. Average tax rates?

d. Effective tax rates?

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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Question Posted: Mar 29, 2013 03:27 AM

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Rory earns $60,000 per year as a college professor. Latesia is a marketing executive with a salary

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a Rorys salary is under the OASDI Social Security base limit Therefore he pays the combined 765 rate ...View the full answer

Concepts In Federal Taxation

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