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What are Julie’s taxable wages as a data-entry operator if her withholding allowances total $1,500 and her annual gross pay is $24,500?

Sagot :

anthougo

Julie's Taxable Wages:

Julie's taxable wages as a data-entry operator is:

= $23,000.

Data and Calculations:

a) Annual gross pay =           $24,500

Total withholding allowances = 1,500

Taxable wages (income) =  $23,000 ($24,500 - $1,500)

b) Julie's total withholding allowance of $1,500 is the total exemption that reduces how much income tax her employer can deduct from  Julie's paycheck.  This means that $1,500 will be deducted from $24,500, the gross pay, before arriving at her taxable income.

Thus, Julie's taxable wages represent the difference between her annual gross pay and her total withholding allowances.

Learn more about taxable income here: https://brainly.com/question/8653999

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