Sally hires a maid to work in her home for $400 per month. The maid is 25 years old and not related to Sally. During 2022, the maid worked ten months for Sally. Do not round immediate computations and round your final answers to two decimal places. a. What is the employer's share of Social Security tax Sally must pay? $ b. What is the employer's share of Medicare tax Sally must pay? Sally's employer's Medicare tax: c. What is the amount of Social Security and Medicare tax which must be withheld from the maid's wages? Sally should withhold for Social Security and Medicare tax of: $

Sally hires a maid to work in her home for $400 per month. The maid is 25 years old and not related to Sally. During 2022, the maid worked ten months for Sally. Do not round immediate computations and round your final answers to two decimal places. a. What is the employer's share of Social Security tax Sally must pay? $ b. What is the employer's share of Medicare tax Sally must pay? Sally's employer's Medicare tax: c. What is the amount of Social Security and Medicare tax which must be withheld from the maid's wages? Sally should withhold for Social Security and Medicare tax of: $

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

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LO2 Joyce Lee earns 30,000 a year. Her employer pays a matching Social Security tax of 6.2% on the first 118,500 in earnings, a Medicare tax of 1.45% on gross earnings, and a FUTA tax of 0.6% and a SUTA tax of 5.4%, both on the first 7,000 in earnings. What is the total cost of Joyce Lee to her employer? (a) 32,295 (b) 30,000 (c) 30,420 (d) 32,715
Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.
Use Figure 12.15 as a reference to answer the following questions. A. If an employee makes $1,400 per month and files as single with no withholding allowances, what would be his monthly income tax withholding? B. What would it be if an employee makes $2,500 per month and files as single with two withholding allowances?
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Problem 6-18 The Nanny Tax (LO 6.7) Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19-year-old nanny $180 per week for 42 weeks during the current year. Do not round immediate computations and round your final answers to two decimal places. a. What is the employer's portion of Social Security and Medicare tax for the nanny that Ann should pay when she files her Form 1040 for 2021? 217.50 x Feedback b. What is the nanny's portion of the Social Security and Medicare tax?
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