Question

PLEASE HELP

1. what is jennifer’s gross pay for the year?

2. how much did she pay in state income tax?

3. how much did she pay in federal income tax?

4. the amount in box 4 is incorrect. what dollar amount should have been entered in box 4? (hint:current tax rate for social security is 6.2% of employees income)

5. the amount in box 6 is incorrect. what dollar amount should have been entered in box 6 (hint: the current tax rate for medicare is 1.45% of employees income)

6. how much was jennifer’s FICA tax?

Answer 1

Part a: From column 1 of the attached Wage and Tax statement, the gross pay is $34854.

Part b: From column 17 of the attached Wage and Tax statement, she paid $1762.39 in state income tax.

Part c: It should be $2160.95 instead of $2164.44

Part d: It should be $505.38 instead of $467.68

Part e: FICA Tax is $2665.38

Part f: She owes the difference $16.52 to the Federal Tax.

Step-by-step explanation: As data was missing from the question, the complete question is found online and is attached herewith.
Part a: From column 1 of the attached Wage and Tax statement, the gross pay is $34854.

Part b:From column 17 of the attached Wage and Tax statement, she paid $1762.39 in state income tax.

Part c:For 2012, Social Security Tax is given as 6.2% of the gross pay soItem 4 should then be6.2% x Gross Income6.2% x 34854.062 * 34854 = 2160.95It should be $2160.95 instead of $2164.44

Part d For 2012, Medicare Tax is given as 1.45% of the gross pay soItem 6 should then be1.45% x Gross Income1.45% x 34854.0145 * 34854 = 505.38 It should be $505.38 instead of $467.68Part eFICA tax is given as sum of Social security tax and Medicare taxes. This is given as FICA Tax=Social Security Tax+Medicare Tax

FICA Tax=$2160+$505.38

FICA Tax=$2665.38FICA Tax is $2665.38Part fFrom the attached table, with $32104 as the taxable income, as the head of household she owes $4199 in Federal tax.From the attached wages and tax statement in column 2, she paid $4182.48. Thus she owes the difference $16.52 to the Federal Tax.