All categories

2 years ago

Tonja is a married taxpayer who claims 2 withholding allowances. She earns

1 answer:

3 0

The amount that Tonja will save in Federal Income and FICA Taxes if she has her childcare expenses deducted from her check before taxes is: $26.17

<h3>What is Federal Income Tax?</h3>

Federal Income Tax is a tax that is levied by the Federal Government and most states in the United States of America. It comprises of 7 tax rates.

FICA Tax is a Federal Insurance Contributions Act Tax. This tax is levied on every payroll of employees to fund Social Security and Medicare programs. This is divided into two parts:

Social Security Tax which is 6.2% and
Medicare Tax which is 1.45%. The total is 7.65%

How to calculate Tonja's Tax before deduction

Federal Tax rate first level is 10% on 0$ - $19,900.

1) Hence, the first tax is 10% on $600, which is $60

2) The next tax is FICA. This is applied to the Gross Pay of $600.

Applying both taxed under FICA we have 7.65% * $600 = $45.9

Total Tax before a deduction is:

$60 + $45.9 = $105.6

The Tax Payable if childcare expenses is deducted first will be:

10% on $450 = $45

7.65% on $450 = $34.43

Total = $79.43

Hence the tax savings will be:

105.6 - 79.43 = $26.17

Learn more about FICA Tax at:
brainly.com/question/3214345

You might be interested in

What is the product?

Kipish [7]

The denominator of the second fraction can be factored as (a-2)(2a-7), then it becomes doable. You cancel the (2a-7) factors, and are left with:

$\frac{3a^2}{a(a-2)} \implies \frac{3a}{a-2}$

Do note that you have erased the fact that a≠0 and a≠7/2, so you should always mention that.

7 0

3 years ago

Read 2 more answers

Please Help!

JulijaS [17]

Answer: $8865=6000(1+\frac{5\times t}{100})$

Step-by-step explanation:

Given

Liam deposited $P=\$\ 6000$

Rate of interest is $R=5\ \%$

If the amount after t years is $A=\$\ 8865$

Simple interest is given by

$S.I.=\dfrac{P\times R\times t}{100}$

And amount is

$A=P+S.I.$

$A=P(1+\frac{R\times t}{100})$

Substituting values we get

$8865=6000(1+\frac{5\times t}{100})$

$1.4775=1+\frac{5\times t}{100}$

$0.4775\frac{5\times t}{100}$

$5t=47.75$

$t=\frac{47.75}{5}=9.55\ years$

8 0

3 years ago

Assume the general population gets an average of 7 hours of sleep per night. You randomly select 45 college students and survey

tekilochka [14]

Answer:

a) ii. This is a left-tailed test.

b) -1.59

c) -1.301

d) i. reject null hypothesis

e) Option i) The data supports the claim that college students get less sleep than the general population.

Step-by-step explanation:

We are given the following in the question:

Population mean, μ = 7 hours

Sample mean, $\bar{x}$ = 6.87 hours

Sample size, n = 45

Alpha, α = 0.10

Sample standard deviation, s = 0.55 hours

First, we design the null and the alternate hypothesis

$H_{0}: \mu = 7\text{ hours}\\H_A: \mu < 7\text{ hours}$

a) We use one-tailed(left) t test to perform this hypothesis.

b) Formula:

$t_{stat} = \displaystyle\frac{\bar{x} - \mu}{\frac{\sigma}{\sqrt{n}} }$

Putting all the values, we have

$t_{stat} = \displaystyle\frac{6.87 - 7}{\frac{0.55}{\sqrt{45}} } =-1.59$

c) Now,

$t_{critical} \text{ at 0.10 level of significance, 44 degree of freedom } = -1.301$

Since,

$t_{stat} < t_{critical}$

d) We fail to accept the null hypothesis and reject it.

We accept the alternate hypothesis and conclude that mean number of hours of sleep for all college students is less than 7 hours.

e) Option i) The data supports the claim that college students get less sleep than the general population.

8 0

3 years ago

Pls Help! Need this ASAP!

ira [324]

Answer:

C. It is a function because none of the ordered pairs have the same y-value.

Step-by-step explanation:

7 0

3 years ago

Read 2 more answers

If f'(x) = 12x^3 - 2x^2 - 17 and f(1) = 8 , find f(x).

Cloud [144]

Answer:

f(x) = 3x⁴ - $\frac{2X^{3} }{3}$ - 17x + $\frac{68}{3}$

Step-by-step explanation:

To find f'(x), we will follow the steps below:

We will start by integrating both-side of the equation

∫f'(x) = ∫(12x^3 - 2x^2 - 17)dx

f(x) = 3x⁴ - $\frac{2X^{3} }{3}$ - 17x + C

Then we go ahead and find C

f(1) = 8

so we will replace x by 1 in the above equation and solve for c

f(1) = 3(1)⁴ - $\frac{2(1)^{3} }{3}$ - 17(1) + C

8 = 3 - $\frac{2}{3}$ - 17 + C

C =8 - 3 + 17 + $\frac{2}{3}$

C = 22 + $\frac{2}{3}$

C = $\frac{66 + 2}{3}$

C = $\frac{68}{3}$

f(x) = 3x⁴ - $\frac{2X^{3} }{3}$ - 17x + $\frac{68}{3}$

7 0

3 years ago