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Illusion [34]
4 years ago
9

If a taxpayer does not have enough taxes withdrawn from her paychecks throughout the year to equal the total tax she is required

to pay that year, she will owe the government the remaining balance. On the other hand, if the taxpayer has more money withheld for taxes than she is required to pay that year, she will receive a refund for the difference.Mary has determined that, based on her annual income of $36,000, her federal income tax for the year is $5,424. Mary gets paid on a bi-weekly basis, giving her 26 paychecks throughout the 52 week year.What is the minimum amount Mary must have withheld from each of her 26 bi-weekly paychecks in order to avoid owing the federal government at the end of the year
Business
2 answers:
polet [3.4K]4 years ago
6 0

Answer:

$209

Explanation:

Since Mary's estimated annual income taxes are $5,424, then to determine the amount that should be withheld every two weeks, all we need to do is divide her total estimated taxes by 26 weeks = $5,424 / 26 weeks = $208.62 ≈ $209. generally you do not include cents in tax filings or payments, you need to round up or down. In this case you need to round up, even software rounds the amounts to the nearest dollar.  

Strike441 [17]4 years ago
5 0

Answer:

B) 208.62

Explanation:

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This answer is True
5 0
3 years ago
A federal unemployment tax is levied on
Leya [2.2K]

Any business with employees are subject to a payroll tax under the Federal Unemployment Tax Act (FUTA).

Payments of unemployment compensation to workers who have lost their jobs are made possible by the Federal Unemployment Tax Act (FUTA), which works with state unemployment systems. Most businesses are required to pay both federal and state unemployment taxes. Visit the U.S. Department of Labor's Contacts for State UI Tax Information and Assistance for a list of state unemployment tax agencies. FUTA tax is not taken out of an employee's paycheck; it is only paid by the employer.

Therefore, it is imposed on any business with employees

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6 0
2 years ago
Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $1
gogolik [260]

Answer:

The amount of cash for the payment of dividends during the year is B. $40,000

Explanation:

To Determine the amount of cash for the payment of dividends during the year, we open a Dividends Payable T - Account and find the amount via <em>missing figure approach</em> as follows:

Debits :

Cash (<em>Balancing figure</em>)                          $40,000

Ending of year Dividends Payable          $15,000

Totals                                                        $55,000

Credits :

Beginning of year Dividends Payable    $10,000

Dividends declared during the year      $45,000

Totals                                                        $55,000

4 0
4 years ago
Suppose the digby company begins to compete through good designs, high awareness and easy accessibility for their existing produ
Elodia [21]

The Digby team will select a Broad differentiation strategy for spreading its existence in every market segment.

<h3>What is Broad differentiation strategy?</h3>
  • A broad differentiation strategy consists of building a brand or business that is different in some way from its competition. It is applied to the industry and will appeal to a vast range of consumers.
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To learn more about Broad differentiation strategy, refer: brainly.com/question/28329756?referrer=searchResults

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6 0
1 year ago
5. A garden plant that has been passed down within a food family and is generally not commercially grown is called a/an _______
madreJ [45]

Answer:

The correct option is D, Heirloom.

Explanation:

A garden Plant that has been passed down within a food family and is generally not commercially grown is called a Heirloom Product. Such garden plants are planted by the gardeners for their own and family use. Such plants are not sold commercially. Generally they are planted to be used within the house. Family members use such plants to make foods.

4 0
3 years ago
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