Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Explore thousands of questions and answers from a knowledgeable community of experts on our user-friendly platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.
Sagot :
To solve the problem of determining Marilyn's federal tax and Social Security tax deductions from her gross pay of [tex]$810$[/tex] with 3 federal withholding allowances, follow these steps:
### Step 1: Federal Tax Calculation
1. Identify the gross pay range: Marilyn's gross pay is [tex]$810. We need to find the applicable row in the tax table. 2. Locate the correct row in the tax table: According to the table, the range that includes $[/tex]810 is "800 to 820."
3. Identify the number of withholding allowances: Marilyn claims 3 allowances.
4. Determine the corresponding tax amount: From the table, for a gross pay in the range 800 to 820 and 3 withholding allowances, the federal tax is [tex]$\$[/tex]37[tex]$. ### Step 2: Social Security Tax Calculation 1. Gross pay for Social Security tax: Marilyn's gross pay is $[/tex]810.
2. Social Security tax rate: The Social Security tax rate is [tex]$6.2\%$[/tex].
3. Calculate the Social Security tax:
[tex]\[ \text{Social Security tax} = 0.062 \times 810 = 50.22 \][/tex]
### Final Result
The federal tax deductions and Social Security tax deductions for Marilyn are as follows:
- Federal tax: [tex]$\$[/tex]37[tex]$ - Social Security tax: $[/tex]\[tex]$50.22$[/tex]
So, Marilyn's total deductions from her gross pay are [tex]$\$[/tex]37[tex]$ for federal tax and $[/tex]\[tex]$50.22$[/tex] for Social Security tax.
### Step 1: Federal Tax Calculation
1. Identify the gross pay range: Marilyn's gross pay is [tex]$810. We need to find the applicable row in the tax table. 2. Locate the correct row in the tax table: According to the table, the range that includes $[/tex]810 is "800 to 820."
3. Identify the number of withholding allowances: Marilyn claims 3 allowances.
4. Determine the corresponding tax amount: From the table, for a gross pay in the range 800 to 820 and 3 withholding allowances, the federal tax is [tex]$\$[/tex]37[tex]$. ### Step 2: Social Security Tax Calculation 1. Gross pay for Social Security tax: Marilyn's gross pay is $[/tex]810.
2. Social Security tax rate: The Social Security tax rate is [tex]$6.2\%$[/tex].
3. Calculate the Social Security tax:
[tex]\[ \text{Social Security tax} = 0.062 \times 810 = 50.22 \][/tex]
### Final Result
The federal tax deductions and Social Security tax deductions for Marilyn are as follows:
- Federal tax: [tex]$\$[/tex]37[tex]$ - Social Security tax: $[/tex]\[tex]$50.22$[/tex]
So, Marilyn's total deductions from her gross pay are [tex]$\$[/tex]37[tex]$ for federal tax and $[/tex]\[tex]$50.22$[/tex] for Social Security tax.
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.