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
weeeeeb [17]
3 years ago
10

Mike gundy is a college football coach making a base salary of $2,400,000 a year ($200,000 per month). employers are required to

withhold a 6.2% social security tax up to a maximum base amount and a 1.45% medicare tax with no maximum. assuming the social security maximum base amount is $118,500, how much will be withheld during the year for the coach's social security and medicare.
Business
1 answer:
asambeis [7]3 years ago
5 0
<span>Mike will earn $2,400,000 for the year. Social security withholds 6.2% which equals $148,800, though Social security has a maximum base amount of $118,500. So the total amount withheld for Social Security will be $118,500. Medicare withholds 1.45% which equals $34,800. So the total amount withheld for Medicare will be $34,800. The total withheld from both Social Security and Medicare would be $153,300.</span>
You might be interested in
Carson County State Bank has a ratio of equity capital to total assets of 2.5%. The FDIC which regulates this bank has determine
Elenna [48]

Answer:

compliance risk

Explanation:

Compliance risk -

It refers to the risky situation , which can be due to some financial forfeiture , legal penalties , loss of material , when the company fails to follow the rules and  regulations , is referred to as compliance risk .

Hence , from the given scenario of the question,

The correct type of risk involved is compliance risk .

6 0
3 years ago
HELPPPP List 7 fixed expenses you might find on a budget?
zvonat [6]
Rent
car payment
insurance
property taxes
salaries
utilities
equipped rental
4 0
3 years ago
Jasmine started a new business in the current year. She incurred $18,000 of start-up costs. How much of the start-up costs can b
liq [111]

Answer:

$5,000

Explanation:

According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less

However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.

Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000

5 0
3 years ago
5. Find an example of a video ad either on TV or on the Internet, and then answer the
mezya [45]

Answer:

nike brand add

Explanation:

the add Brings inspiration and innovation to every athlete in the world by creating groundbreaking sport innovations, by making our products more sustainably, by building a creative and diverse global team and by making a positive impact in communities where we live and work.

8 0
3 years ago
What is regulatory capture and why is it illegal?
Zepler [3.9K]
Regulatory capture. Regulatory capture is a form of government failure which occurs when a regulatory agency, created to act in the public interest, instead advances the commercial or political concerns of special interest groups that dominate the industry or sector it is charged with regulating.
4 0
3 years ago
Other questions:
  • 1. Assume that Walmart can borrow at yield of 5% in USD (5-year, zero coupon debt, issued in the US), before issuance costs. Alt
    7·1 answer
  • The primary purpose of the life insurance replacement regulation is to protect the
    14·1 answer
  • A rent ceiling results in a shortage. As a result, which of the following do you expect? O a black market for apartments whereby
    13·1 answer
  • The true owners of a corporation are the _______.
    14·2 answers
  • A medical student will complete her residency and go into medical practice in 4 years. She needs to purchase expensive medical e
    11·1 answer
  • _____ refers to searching and capturing new ideas that lead to business opportunities. Opportunity charging Entrepreneurial aler
    11·1 answer
  • If Bojana Tax Services' office supplies account balance on March 1 was $1,400, the company purchased $675 of supplies during the
    8·1 answer
  • Slaq Computer Company manufactures notebook computers. The economic lifetime of a particular model is only four to six months, w
    14·1 answer
  • The rational-ignorance effect refers to the a. lack of incentive voters have to become well-informed about candidates and issues
    10·1 answer
  • At the beginning of the current period, Griffey Corp. had balances in Accounts Receivable of $239,000 and in Allowance for Doubt
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!