Question

(a) What was Jennifer’s gross pay for the year?

Answer 1

Answer:

Part a: From column 1 of the attached Wage and Tax statement, the gross pay is $34854.

Part b: From column 17 of the attached Wage and Tax statement, she paid $1762.39 in state income tax.

Part c: It should be $2160.95 instead of $2164.44

Part d: It should be $505.38 instead of $467.68

Part e: FICA Tax is $2665.38

Part f: She owes the difference $16.52 to the Federal Tax.

Step-by-step explanation:

As data was missing from the question, the complete question is found online and is attached herewith.

Part a:

From column 1 of the attached Wage and Tax statement, the gross pay is $34854.

Part b:

From column 17 of the attached Wage and Tax statement, she paid $1762.39 in state income tax.

Part c:

For 2012, Social Security Tax is given as 6.2% of the gross pay so

Item 4 should then be

6.2% x Gross Income

6.2% x 34854

.062 * 34854 = 2160.95

It should be $2160.95 instead of $2164.44

Part d

For 2012, Medicare Tax is given as 1.45% of the gross pay so

Item 6 should then be

1.45% x Gross Income

1.45% x 34854

.0145 * 34854 = 505.38

It should be $505.38 instead of $467.68

Part e

FICA tax is  given as sum of Social security tax and  Medicare taxes. This is given as

FICA Tax=Social Security Tax+Medicare Tax

FICA Tax=$2160+$505.38

FICA Tax=$2665.38

FICA Tax is $2665.38

Part f

From  the attached table, with $32104 as the  taxable income, as the head of household she owes $4199 in Federal tax.

From the attached wages and tax statement in column 2, she paid $4182.48. Thus she owes the difference $16.52 to the Federal Tax.