« previous next »

Author Question: In December, 2010, Bob Cratchit worked for Scrooge & Marley and earned 1,000. Federal income tax ... (Read 125 times)

jazziefee

  • Hero Member
  • *****
  • Posts: 505
on: Jul 5, 2018
In December, 2010, Bob Cratchit worked for Scrooge & Marley and earned 1,000. Federal income tax withholding is 10. The FICA rate is 6.2 and the Medicare tax is 1.45.
 
  How much cash will Scrooge & Marley pay the government for FICA because of Bob's December earnings?
  A) 62.00
  B) 124.00
  C) 14.50
  D) 29.00

Question 2

Self-employment income is the gross income of a trade or business run by an individual.
 a. True
   b. False
   Indicate whether the statement is true or false


mirabriestensky

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Income of Adult Children Compared With That of Their Parents Income of Adult Children Compared With That of Their Parents
Regional Variation in Income and Access to the Sea Regional Variation in Income and Access to the Sea
How Health Interacts with Income How Health Interacts with Income
World Population, 10,000 B.C. to A.D. 2010 World Population, 10,000 B.C. to A.D. 2010
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
A portfolio earned -13%, 18%, 5%, 24%, and -5% in five successive years. What was the ... A portfolio earned -13%, 18%, 5%, 24%, and -5% in five successive years. What was the ...
Video: Vascular tissues in a corn stem and a buttercup root

For a complete list of videos, visit our video library