Erica earned $128,800 during 2017. How much will her employer withhold from her, in total, for FICA

Question:

Erica earned $128,800 during 2017. How much will her employer withhold from her, in total, for FICA taxes?

a. $9,069.60.

b. $9,214.60.

c. $9,741.00.

d. $9,754.00.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Taxation 2018

ISBN: 9781259713736

11th Edition

Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

See More Books

Question Posted: Nov 19, 2018 12:47 PM

See More Questions

Collette is an employee of Dynamex Industries Inc. and earned $51 000 in 2017. How much will her employer deduct in CPP contributions based on an employee contribution rate of 4.95 percent? The YMPE...
Multiple choice Questions 1. Employees claim withholding allowances on Form W-4. Each withholding allowance claimed lowers their annual withholding base by what amount for calendar year 2014? a....
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. $3,950....
Dylan Flaherty, marketing clerk for TipTop Marketing Agency, recorded the following information for last year: He would like to be able to estimate customer service costs using the number of...
If two or more events have the property that at least one of them must occur when the experiment is performed, the events are said to be ____________.
What are pay grades and pay ranges? In a step-by-step manner, discuss how an organization's wage structure is determined.
Why are financial statements translated from one currency to another?
The following accounts and balances were drawn from the records of Barker Company at December 31, 2016: Supplies ...............$ 1,000 Beginning retained earnings .......$ 9,300 Cash flow from...
At a fundamental level, all input ( as well as output ) is done on a character - by - character basis. A . True B . False
Jaylen has asked you to make a retirement planning presentation to the employees at Troy Metals Inc. as part of a financial literacy day. Your presentation will last approximately 60 minutes with...
Would you expect nitrous acid to induce a higher frequency of Tyr Ser or Tyr Cys substitutions? Why?
Adenike has two jobs and earned $ 110,000 from her first job and $20,000 from her second job. How much total FICA taxes will Adenike have withheld from her wages from working two jobs? a. $9,730.80....
On January 1, 2018, Ithaca Corp. purchases Cortland Inc. bonds that have a face value of $150,000. The Cortland bonds have a stated interest rate of 6%. Interest is paid semiannually on June 30 and...
The after-tax operating cash flows in euros for the Fontenot Company are: A. 50 in both years. B. 70 in both years. C. 85 in both years. Linda Pyle is head of analyst recruiting for PPA Securities....
Erin Chou is reviewing a profitable investment project that has a conventional cash flow pattern. If the cash flows for the project, initial outlay, and future after-tax cash flows all double, Chou...
Here are the 2015 revenues for the Wendover Group Practice Association for four different budgets (in thousands of dollars): a. What do the budget data tell you about the nature of Wendovers...
Theresa Davis is in the 40 percent personal tax bracket. She is considering investing in HCA (taxable) bonds that carry a 12 percent interest rate. a. What is her after-tax yield (interest rate) on...
Based on the information provided in the case, which of the following corporate disclosures could investment professionals use to evaluate the quality of the corporate governance system at AMC? A....
If s 2 = 6.55, what is s?
Activator rod AB exerts on crank BCD a force P directed along line AB. Knowing that P must have a 100-N component perpendicular to arm BC of the crank, determine (a) The magnitude of the force P, (b)...
USA Corporation hired Jesse to install a computer system for the company and paid him $8,000 for the work. USA soon realized that there were problems with the system and asked Jesse to refund the...
Bart and Kesha, who are in the 39.6% tax bracket, are interested in reducing their taxes. They are currently considering several alternatives. For each, indicate how much tax, if any, they would...
Ken and Lynn paid $5,000 to purchase Series EE bonds in the name of their 11-year-old son. The son has no other income, and they are in the 28% tax bracket. The taxable interest this year will be...
Discuss the main distinguishing features of majority, concurring, and dissenting opinions
On September 3, 2023, Wilkins purchased 1244 stock in Brass Corporation for $6,000. On December 31, 2023, the stock was worth $8,500. On August 15, 2024, Wilkins was notified that a. 2023-$0;...
Kowalczyk Company spends $30000 dollars for manufacturing equipment. When should the cost of the equipment be expensed? Over the period that the equipment will be used When the performance obligation...

Erica earned $128,800 during 2017. How much will her employer withhold from her, in total, for FICA

Question:

Step by Step Answer:

d 975400 Social Security tax cal...View the full answer

Fundamentals Of Taxation 2018

Students also viewed these Business questions