Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of Federal Income Tax withheld from his earnings was $1,375.17. What is the total amount of taxes withheld from the Phoenix's earnings? Select one:a. $3,097.17b. $2,443.21c. $2,009.21d. $1,722.00e. $1,495.36
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate for social ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Y = 100,120,125,140,80,115,166,200. Calculate the corresponding consumption levels using the relationship specified and plot the figures on a two-dimensional graph with consumption C at the vertical axis and income Y at the horizontal axis
Answers (1)
A salesperson makes $200 per week and $35 bonus for each person, x, he signs up. Which expression represents the total amount of money the salesperson makes in a week
Answers (1)
Trevor Company expects sales of Product W to be 60,000 units in April, 75,000 units in May, and 70,000 units in June. The company desires that the inventory on hand at the end of each month be equal to 40% of the next month's expected unit sales.
Answers (1)
For the year ended december 31, 2013, lopez company has implemented an employee bonus program equal to 3% of lopez's net income, which employees will share equally.
Answers (1)
On 1/1/X1, P acquired 80% of S for $800,000 when S's equity included $500,000 capital stock and $500,000 of Retained Earnings. During years X1 and X2 S earned $100,000 and $120,000, respectively. In both years, S paid $20,000 of dividends.
Answers (1)
New Questions in Business
Anthony and cathy smith have been married for thirty-one years. they have always had a joint bank account, discuss big expenditures before making them, and share household duties.
Answers (1)
Assume there is a decrease in the market demand for a good sold by price-taking firms that are initially producing the profit-maximizing level of output. For the individual firm, this would result in:
Answers (1)
A company uses the periodic inventory system and had the following activity during the current monthly period.
Answers (1)
Recently, Pfizer and Allergan - the makers of Viagra and Botox, respectively - initiated a $160 billion merger. Pharmaceutical companies tend to spend a greater percentage of sales on R&D activities than other industries.
Answers (1)
Concord Furniture factors $893000 of receivables to Pharoah, Inc. Pharoah assesses a 3% service charge on the amount of receivables sold. Concord Furniture factors its receivables regularly with Pharoah.
Answers (1)