Can someone please help me with this.<br> Find x

If you are self-employed, you don't have to pay FICA on all your salary, just on 92.35% of it. If your salary is $128,255 what i

Artist 52 [7]

Answer:

The amount that I am required to pay monthly as FICA if my salary remains constant is $18,121.85¢

Step-by-step explanation:

Federal insurance contributions act is a law that mandates all employers of labour to withhold medicare and certain taxes from the wages that are paid to employees or workers. These taxes are remitted to the government later which is then used for the provision of basic amenities and quality health care.

Since, I am only required by law to pay FICA on only 92.35% of my monthly salary, we need to calculate the the actual amount that makes up 92.35 percent of my monthly salary.

If $128,255 is my current monthly salary, then 92.35% of it will be:

92.35/100 × 128,255

= 0.9235 × 128,255

= $118,443.49¢

This is the part of his monthly salary that he is required by law to pay FICA on.

Then, if FICA is 15.3% of a worker's taxable income, then I am required to pay 15.3% of the taxable $118,443.49¢ since I am self employed and mustn't pay it on the entire $128,255 that I earn monthly.

My monthly FICA contribution is then:

15.3/100 × 118,443.49

= 0.153 × 118,443.49

= $18,121.85¢.

Therefore, if my salary remains constant, the amount that I am required by law to pay monthly as FICA is $18,121.85

6 0

4 years ago

Read 2 more answers

Describe how you would classify the shape below on the hierarchy. Start at the top and describe how you know if the shape fits i

Bingel [31]

I would classify that shape as a pentagon because it has 5 sides/edges.

It is shaped like the houses in the old times.

Hope I helped :) :)

8 0

3 years ago

21. A man's income is increased in the ratio 47:40. Find the increase percentage. hok= 2:5. x.y =3:4 and 2h+x:(+2y = 1:2. find t

Marina86 [1]

Answer:

wrong❌❌

question

wrong❌❌

question

3 0

3 years ago

I need help with all 4 of these . And I do need to show work for all of them

malfutka [58]

Answer:

Step-by-step explanation:

11) Profit = Selling price - purchase price - other expenses

$= (2000*7)-12780-26=1194$

12) Profit = Selling price - purchase price - other expenses

$=52.25(550)-28275-32=430.50=430$ (after rounding off)

13) Annual interest on bond

=INterest rate on face value of bond for 1 year

$=2000(6%)=120$

14)Cost of bond

= quoted value (rate)

=3500(80.5)

=2817.50

15) Cost of bond

= quoted value (rate)

=4250(83.5)

=3548.75

3 0

3 years ago

Pls do 2 3 4 a and b

kirza4 [7]

Answer:

2.a)11.355 b)0.94625

3. divide 6 by 4

4. 0.8kg, 800g

Step-by-step explanation:

To convert one measurement to another you need to set it up so that the old measurement gets cancelled out when you multiply the conversion ratio.

2a) $\frac{3 gallons}{1} *\frac{3.785 milliliters}{1 gallon}=11.355 milliliters$ the gallons on top and bottom get cancelled out leaving you with the measurement that you want

2b) $\frac{1quart}{1} *\frac{1 gallon}{4 quarts} *\frac{3.785 milliliters}{1 gallon} = 0.94625 milliliters$

3) $\frac{x}{y} \frac{6 quarts}{1} *\frac{1 gallon}{4 quarts} = 1.5 gallons$

4) $\frac{28 ounces}{1} *\frac{1 kilogram}{35 ounces} = 0.8 kilograms$

$\frac{0.8 kilograms}{1} *\frac{1000 grams}{1 kilogram} = 800 grams$

7 0

3 years ago

Can someone please help me with this. Find x