Ann hires a nanny to watch her two children while she works at a local hospital. She
Question:
Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19-year-old nanny $170 per week for 42 weeks during the current year.
a. What is the employer’s portion of Social Security and Medicare tax for the nanny that Ann should pay when she files her Form 1040 for 2018?
b. What is the nanny’s portion of the Social Security and Medicare tax?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
a 170 x 42 7140 7140 x 62 442...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
Students also viewed these Business questions
-
What is the difference between Social Security and Medicare taxes?
-
Download IRS Form 8919 (Uncollected Social Security and Medicare Tax on Wages) from the IRS website. According to the instructions, who should file this form?
-
Calculate the total Social Security and Medicare tax burden on a sole proprietorship earning 2015 profit of $300,000, assuming a single sole proprietor.
-
1. What is differences between the ancient Mayan criminal justice system and modern criminal justice systems? 2. Does the legal system of the ancient Maya has any relevance to the modern world? File...
-
Black & Decker is a leading global manufacturer and marketer of power tools, hardware, and home improvement products. A press release on April 30, 2009, contained the following announcement: The...
-
Carol Lorenz was employed by Tyson Foods, Inc. in Cherokee, Iowa, from October 1985 until December 6, 2012, when her employment was terminated. She was 62 years old at the time of her discharge....
-
The method of subjecting a system to a known force as an initial condition and then releasing is known as a. step relaxation b. excitation by electromagnetic shaker c. impactor
-
Sarko Company had 300,000 shares of $10 par value common stock outstanding at all times, and retained earnings balances as indicated here: Retained Earnings January 1, 2010......$260,000 January 1,...
-
What stress management techniques are most effective in academic settings, particularly for students and educators facing high-pressure environments ?
-
According to Verto Analytics, Inc., 53% of 30- to-34-year-olds in the United States own tablets. (Data extracted from "The Impact of Income and Age on Device Ownership," bit.ly/1yR21gL.) Using the...
-
Sally hires a maid to work in her home for $280 per month. The maid is 25 years old and not related to Sally. During 2018, the maid worked 9 months for Sally. a. What is the amount of Social Security...
-
Skylar is single and earns $410,000 in salary during 2018. What is the amount of 0.9 percent Medicare tax for high-income taxpayers that his employer must withhold from his wages? a. $1,890 b. $1,800...
-
Satchel Inc. purchases 10,000 shares of its own previously issued $10 par common stock for $290,000. Assuming the shares are held in the treasury with intent to reissue, what effect does this...
-
A young engineer designs a simple cipher based on Shannon's concept of a "product cipher". The ciphertext output, y, is generated by applying an affine cipher to the plaintext, x, to produce an...
-
3. For each of these arguments determine whether the argument is correct or incorrect and explain why. a) Everyone enrolled in the university has lived in a dormitory. Mia has never lived in a...
-
Consider the following context-free grammar of expressions E ::= n | (E, E) where n ranges over integers. (a) Present a right-most derivation of the expression ((21, 18), 17). [2 marks] (b) List the...
-
Read the following essay, then answer the questions on page three, using your knowledge of IEEE documentation. Biological Clocks: The Body's Internal Timepieces (excerpt) 1. Life in modern...
-
The following variables are used in an implementation of the algorithm: ar is the count of active readers rr is the count of reading readers aw is the count of active writers ww is the count of...
-
1. How is Caterpillar using the factors of production to fuel global growth? 2. How would you characterize Caterpillars competitive situation? What are the implications for how it does business? 3....
-
Pedro Bourbone is the founder and owner of a highly successful small business and, over the past several years, has accumulated a significant amount of personal wealth. His portfolio of stocks and...
-
Lawrence owns a small candy store that sells one type of candy. His beginning inventory of candy was made up of 10,000 boxes costing $1.50 per box ($15,000), and he made the following purchases of...
-
You have a problem and need a full-text copy of the Related Party Code Section 267. Go to the Office of the Law Revision Counsel of the United States House of Representatives website...
-
Elaines original basis in the Hornbeam Partnership was $30,000. Her share of the taxable income from the partnership since she purchased the interest has been $90,000, and Elaine has received $80,000...
-
You will make a post giving your point-of-view (PoV) on a brand's activities and/or marketing campaign. Give your PoV on what brands can and should do to ensure they are creating a great digital...
-
IM.83 A distribution center for a sporting goods retailer places orders with manufacturers for a variety of items. Among these is a popular standard skateboard, targeted to first-time skate boarders....
-
[5] 5. Determine the area of the shaded region, if the radius of each circle is 5 cm.
Study smarter with the SolutionInn App