Carlos earned a total of $236,000 for 2019. How much in FICA tax will his employer be
Question:
Carlos earned a total of $236,000 for 2019. How much in FICA tax will his employer be required to withhold in his name?
a. $11,448.30.
b. $11,661.80.
c. $11,706.80.
d. $11,985.80
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (6 reviews)
d 1198580 Feedback 132900 62 82398...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Taxation 2020 Edition
ISBN: 9781260483147
13th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
Question Posted:
Students also viewed these Business questions
-
Carlos earned a total of $225,000 for 2017. How much in FICA tax will his employer be required to withhold in his name? a. $10,834.50. b. $11,148.90. c. $11,373.90. d. $12,029.10.
-
Carlos earned a total of $225,000 for 2018. How much in FICA tax will his employer be required to withhold in his name? a. $11,223.30 b. $11,373.90. c. $11,448.30. d. $11,484.30.
-
1. Employees claim withholding allowances on Form W-4. Each withholding allowance claimed lowers their annual withholding base by what amount for calendar year 2015? a. $3,850. b. $3,900. c. $3,950....
-
Jinny Buffett recently retired as a flight attendant and is interested in opening a fitness center and health spa exclusively for women in Grand Cayman, where she resides. After careful study, she is...
-
a. Find the general traffic pattern of the freeway network shown in the figure. (Flow rates are in cars/minute.) b. Describe the general traffic pattern when the road whose flow is x5 is closed. c....
-
In the first election of the 20th century, Theodore Roosevelt (178 cm) defeated Alton B. Parker (175 cm). There have been 28 additional elections since then, for a total of 29. Of these, 26 elections...
-
You are designing a new glass factory near the ocean. Sand is to be mined wet from the beach. However, wet sand carries with it seawater entrained between sand grains. Salt must be removed by a...
-
One product produced and sold by Big Boy Toys is an ATV gun rack for which 2014 projections are as follows: Projected volume in units ........... 120,000 Sales price per unit .............$ 60...
-
A company is considering 3 projects: a low risk project A , an average risk project B , and a high risk project C . The company has an average WACC of 1 1 % , applies a 2 % discount to its low risk...
-
Executive Transport, Inc. is a company that rents cars, vans, and limos to a wide range of customers. Customers frequently call Executive Transports sales staff to receive quotes for rental expenses....
-
Household employees are subject to FICA withholding if they are paid at least what amount during any calendar quarter in 2019? a. $1,800. b. $1,900 c. $2,000. d. $2,100.
-
Erica earned $133,800 during 2019. How much will her employer withhold from her, in total, for FICA taxes? a. $9,842.90. b. $10,179.90. c. $10,222.65. d. $10,235.70.
-
What do the teeth on the key represent in the lock-and-key model of enzyme catalysis?
-
Years ago, February Frost Inc. ( FFI ) borrowed $ 6 7 5 , 0 0 0 from Sweetheart Corporation ( Sweet ) in the form of a 1 0 year, 1 0 % note due on December 3 1 , 2 0 2 4 . FFI has had declining sales...
-
Calculate the net income for Green Thumb Company. Then, assuming the company had retained earnings of $ 1 6 2 , 0 0 0 as of January 1 , 2 0 2 0 , and paid out $ 4 6 , 0 0 0 in dividends during the...
-
Suppose the simplified consolidated balance sheet shown below is for the entire commercial banking system. All figures are in billions of rands. The reserve ratio is 9%. Table 2: Simplified...
-
4. The distribution of stock X and stock Y returns next year are listed as follows. State of the Economy Probability of State Stock X return of the Economy Boom 10.00% 15.70% Normal 65.00% 7.30%...
-
You must do one of the following projects: 1 : AM , , PM and FM modulator for sender and receiver 1 Mhz carrier and Bw = 8 = 8 khz voice human. 2 : Hamming code: for transmitter and receiver....
-
Patterson Brothers recently reported an EBITDA of $7.5 million and net income of $2.1 million. It had $2.0 million of interest expense, and its corporate tax rate was 30%. What was its charge for...
-
Rewrite Programming Exercise 7.5 using streams. Display the numbers in increasing order. Data from Programming Exercise 7.5 Write a program that reads in 10 numbers and displays the number of...
-
In2016, Andrew contributed equipment with an adjusted basis of $20,000 and a FMV of $18,000 to Construction Limited Partnership (CLP) in return for a 3% limited partnership interest. Andrew's share...
-
Judy acquired passive Activity A in January 2011 and Activity B in July 2012. Until 2016, Activity A was profitable. Activity A produced a loss of $50,000 in 2016 and a loss of $75,000 in 2017. She...
-
Julia acquired passive Activity A in January 2012 and passive Activity B in July 2014. Until 2015, Activity A was profitable. Activity A produced a loss of $150,000 in 2015 and a loss of $150,000 in...
-
A company has en 11% WACC and is considering two mutually exclusive investments (that cannot be repeated) with the following cash flows: 0 1 2 3 4 5 6 7 + + + F Project -$300-$387 -$193 -$100 $600...
-
You are considering investing in a scholarship fund for your daughter. The fund operates in the following way: Starting in one month's time you would make regular monthly deposits of $50 for a period...
-
A Firm has a stock price of 6 5 and an annual standard deviation of 2 5 % . The risk - free rate is 1 0 % ( c . c . ) . This firm will pay a dividend of $ 8 in exactly 3 months and no other dividends...
Study smarter with the SolutionInn App