Answer:
<u>Total Payroll tax expense is $91.336</u>
Explanation:
Normal Wage rate=$16 per hr
Overtime wage tare=$16*150%=$24 per hr
Barbara Normal Income=40*16=640
Barbara Overtime income=6*24=144
Total earnings=640+144=784
Social security tax=784*6.2%=48.608
Medicare taxes=784*1.45%=11.368
Federal unemployment tax=784*1.0%=7.84
State Unemployment tax=784*3.0%=23.52
Total payroll expense for Baltimore company is total of all taxes including extra $220 federal income taxes i.e
$48.608+$11.368+$7.84+$23.52=$ 91.336
Hence, $91.336 will be the total payroll tax expense for Baltimore company.
It would be overdraw because you’re gonna take money out of your bank account etc.
Answer:
box of money.
Explanation:
it is for money so u can get the money for emergency's
<span>Family A: marginal rate 20%, average rate 10%</span><span>
Family B: marginal rate 40%, average rate 23% </span><span>
The marginal tax rate is the rate paid on the last dollar of income; this would be whatever tax bracket the family is in. The average price is the total tax divided by the total revenue. </span><span>
Family A: </span><span>
</span><span>
total income $40,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), and $10,000 at 20% (tax of $2,000). The last rate paid is 20% so that is the marginal rate; the total tax paid is $4,000, divide that by $40,000 total income, that is the average rate. </span><span>
Family B: </span><span>
</span><span>
total income $100,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), $20,000 at 20% (tax of $4,000), $30,000 at 30% (tax of $9,000), and $20,000 at 40% (tax of $8,000). The last rate paid is 40% so that is the marginal rate; the total tax paid is $23,000, divide that by $100,000 total income, that is the average rate.</span>