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George has 50,000in wage income ,20,000 in gambling winning .10,000 in alimony income and 5,000 in divided income the amount of George income that is subject to withholding is

Sagot :

anthougo

The amount of George's income that is subject to withholding is $75,000, which excludes the alimony income.

What is alimony income?

Alimony income represents the amount received from a spouse or a former spouse under a divorce or separation instrument.

What are the incomes subject to withholding?

The incomes subject to withholding include the following:

  • Regular
  • Commissions
  • Vacation pay
  • Reimbursements
  • Other expense allowances
  • Pensions
  • Bonuses
  • Dividends
  • Gambling winnings.

Data and Calculations:

Wages income = $50,000

Gambling winning = $20,000

Alimony income = $10,000

Dividend income = $5,000

Income subject to withholding = $75,000 ($20,000 + $20,000 + $5,000)

Thus, George's income that is subject to withholding is $75,000, excluding the alimony income.

Learn more about withholding tax at https://brainly.com/question/26781826

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