« previous next »

Author Question: In December, 2010, Bob Cratchit worked for Scrooge & Marley and earned 1,000. Federal income tax ... (Read 123 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?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ... Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ...
Income Inequality in the United States: 1947–2009 Income Inequality in the United States: 1947–2009
Relationship between Income Inequality and Sociopolitical Instability Relationship between Income Inequality and Sociopolitical Instability
Changes in the Level of Education, 1975-2010 Changes in the Level of Education, 1975-2010
December 11, 2023 December 11, 2023
Video: Mechanics of Sound Animation

For a complete list of videos, visit our video library