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Klio2033 [76]
3 years ago
11

Rasheed works for Company A, earning $299,000 in salary during 2019. Assuming he is single and has no other sources of income, w

hat amount of FICA tax will Rasheed pay for the year
Business
1 answer:
Vaselesa [24]3 years ago
6 0

Answer:

$13,466

Explanation:

For 2019, the wage limit for Social Security tax is $132900

Thus;

Social Security tax $132,900x 6.2% = $8,239.80

Medicare tax = $299,000 x 1.45% = $4335.50

Additional Medicare Tax ($299,000 - $200000) x 0.9% = $891

therefore,

Amount of FICA Tax = $8239.80 + $4335.50 + $891 = $13,466.30 which is approximately $13,466

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After a customer buys a computer or receives service from Tech Geek, a service representative contacts each customer to conduct
blsea [12.9K]

Answer:

B) False

Explanation:

The survey information is a form of feedback which returns as information input to the company. Surveys are an extremely important tool that can help a company measure the perceived quality of their products or services. Any complaints received can help to improve the production process, and eventually improve your products and services. Some customers like being surveyed because they believe that the company cares about them and it increases their loyalty to the brand.

6 0
3 years ago
Kevin wants to buy a house that costs $350,000. Kevin will need to go to a bank and obtain a mortgage in order to purchase the h
Anestetic [448]

_________________________________

<h3>a) = 25% × $350,000 ÷ 100</h3><h3> = <u>$87,500</u></h3><h3 /><h3 /><h3>b) = $350,000 - $87,500</h3><h3> = <u>$262,500</u></h3>

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3 0
3 years ago
A certain bookstore chain has two stores, one in San Francisco and one in Los Angeles. It stocks three kinds of books: hardcover
Hoochie [10]

Answer:

                           Hard       Soft        Plastic

San Francisco 3,600           7,800       12,000  

Los Angeles  2,400            1,800        3,000

Explanation:

The sales during January were as follows:

                          Hard      Soft          Plastic

San Francisco 600              1,300           2,000  

Los Angeles  400                300              500

If the sales during the next five months were actually the same, then to determine total sales all we have to do is multiply January's sales by 6.

600 x 6 = 3,600         1,300 x 6 = 7,800         2,000 x 6 = 12,000

400 x 6 = 2,400           300 x 6 = 1,800            500 x 6 = 3,000

7 0
3 years ago
Two of the major advantages of a pass-through entity are that investors can _______ and _______. (choose two correct answers)
prisoha [69]

Two of the major advantages of a pass-through entity are that investors can assume the tax deductions and losses earnings.

An option to lower taxable income is a tax deduction. A standard deduction is a single, predetermined deduction. Higher-income taxpayers frequently have considerable deductible expenses, such as state and local taxes paid, mortgage interest, and charitable contributions, which is why itemized deductions are popular.

Any expense that is deemed "ordinary, necessary, and reasonable" and aids in the revenue generation of a firm is tax deductible. Usually, it is subtracted from the business's income before taxes.

Learn more about tax deduction here

brainly.com/question/17395659

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7 0
1 year ago
What are the 5 largest state and local expenses?<br> list them in older highest to lowest
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Elementary and secondary education (22%), public welfare (21%), higher education (10%), health and hospitals (9%), police and corrections (6%), highways and roads (6%)
3 0
3 years ago
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