The amount that Tonja will save in Federal Income and FICA Taxes if she has her childcare expenses deducted from her check before taxes is: $26.17
<h3>What is Federal Income Tax?</h3>
Federal Income Tax is a tax that is levied by the Federal Government and most states in the United States of America. It comprises of 7 tax rates.
<h3>What is FICA Tax?</h3>
FICA Tax is a Federal Insurance Contributions Act Tax. This tax is levied on every payroll of employees to fund Social Security and Medicare programs. This is divided into two parts:
- Social Security Tax which is 6.2% and
- Medicare Tax which is 1.45%. The total is 7.65%
How to calculate Tonja's Tax before deduction
Federal Tax rate first level is 10% on 0$ - $19,900.
1) Hence, the first tax is 10% on $600, which is $60
2) The next tax is FICA. This is applied to the Gross Pay of $600.
Applying both taxed under FICA we have 7.65% * $600 = $45.9
Total Tax before a deduction is:
$60 + $45.9 = $105.6
The Tax Payable if childcare expenses is deducted first will be:
10% on $450 = $45
7.65% on $450 = $34.43
Total = $79.43
Hence the tax savings will be:
105.6 - 79.43 = $26.17
Learn more about FICA Tax at:
brainly.com/question/3214345
Answer:
A
Step-by-step explanation: I believe it's A because It's the opposite but I'm not 100% certain, because I don't remember inverse statements.
Answer:
x = 13
Step-by-step explanation:
x and 167 are a linear pair, x plus 167 will equal 180
x + 167 = 180
x = 180 - 167
x = 13
To check: x + x + 167 + 167 = 360
x = 13
13 + 13 + 167 + 167 = 360
26 + 167 + 167 = 360
26 + 334 = 360
360 = 360
Answer:
the answer should be 56 :)
Step-by-step explanation:
