1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lilavasa [31]
3 years ago
12

In 2019, Martin had two employers during the year. Both employers withheld Social Security tax from his wages in the amounts of

$4,314.05 and $4,274.75. What amount can Martin claim as a credit against his income tax when he files his income tax return
Business
2 answers:
Debora [2.8K]3 years ago
5 0

Answer:

$1241.80

Explanation:

From the given information:

the social security taxes withheld by both employers are $4314.05 and $4274.75 respectively.

Let's recall that the maximum amount the IRS can also withhold from wages is $7347.00.

Therefore;

the required amount that can be claimed as a credit is:

= $4,314.05 +  $4,274.75 - $7347.00

= $1241.80

vodomira [7]3 years ago
5 0

Answer:

$349

Explanation:

1) 4,314.05 + 4,274.75 = 8,588.80

2) Social security withheld max: 132,900 * 6.2% = 8,239.80

3) 8,588.80 - 8,239.80 = 349

You might be interested in
Huong is opening an international food store. Though her products will span the globe, she wants to focus on items from the Midd
Marina CMI [18]
C bc it makes very good since
8 0
3 years ago
A ___________ loan is one that is backed up by something of value.
zlopas [31]

Answer:

secure

Explanation:

A secure loan is backed by collateral or assets of value

7 0
3 years ago
Read 2 more answers
7. A legal entity that makes money for reasons other than the owner's profit, where the profits must remain within the
Vika [28.1K]

Answer:

wqqwqee

eeExplanation:

qqqqqqqqqqqqqqqqqqqw

7 0
3 years ago
Abraham drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of $0.55 per can. On a particular d
Brrunno [24]

Answer:

It will purchase 3 cans

total consumer surplus    0.70

Explanation:

the market price is 0.55

It will purchase up to three cans. the fourth can he is willing to purchase at 0.40 but the price is 0.55 so it won't trade for that one.

<u>consumer surplus:</u>

difference between the amounts he was willing to pay for each unit and the market price:

first can        0.95 - 0.55 = 0.40

second can 0.80 - 0.55 = 0.25

third can      0.60 - 0.55 = 0.05

total consumer surplus    0.70

5 0
2 years ago
What is the equity beta for a firm with asset beta equal to 0.9, and D/E ratio of 0.4, and tax rate equal to 35%?
NNADVOKAT [17]

Answer:

the equity beta of the firm is 1.134

Explanation:

The computation of the equity beta is shown below:

Equity beta is

= Asset beta × [1 + (1 - tax rate) × Debt-equity ratio]

= 0.9 × [1 + (1 - 0.35) × 0.4]

= 0 9 × 1.26

= 1.134

Hence, the equity beta of the firm is 1.134

We simply applied the above formula so that the correct value could come

And, the same is to be considered

3 0
3 years ago
Other questions:
  • Which is an advantage to having an account at a consumer bank instead of a credit union
    14·2 answers
  • Company X had a net income of $25,000 for the year ended December 31, 2016. In 2016, Company X paid the out dividends of $10,000
    13·1 answer
  • You bought a stock three years ago and paid $45 per share. You collected a $2 dividend per share each year you held the stock an
    5·1 answer
  • Down and Out Co. operates an executive placement service for corporate executives displaced by corporate restructuring. Its mont
    7·1 answer
  • A business that is making a profit is said to be
    6·1 answer
  • 15 POINTS!!! pls no bots
    15·1 answer
  • Marathon Company has 10,000 units of its product that were produced last year at a total cost of $150,000. The units were damage
    10·1 answer
  • When an employee/shareholder receives a business incoLogan, a 50-percent shareholder in Military Gear Incorporated (MG), is comp
    5·1 answer
  • James is a family practitioner who graduated at the top of his class in medical school. He has run a successful practice for alm
    10·2 answers
  • What should investors consider when planning for their retirement?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!