Financial Algebra Chapter 9 Quiz 1

Determine the tax for each filing status and taxable income amount listed. single $80,602 (tax table)

• $14,479

• $15,950

• $11,744

• $16,101

Determine the tax for each filing status and taxable income amount listed. married filing jointly $77,777 (tax table)

• $15,238

• $11,031

• $15,303

• $13,766

Determine the tax for each filing status and taxable income amount listed. head of household $83,572 (tax table)

• $16,688

• $12,481

• $16,927

• $15,216

[use tax schedule]

Calculate the tax for each of the taxable incomes of a single taxpayer. $121,890

• $34,129.20

• $27,200.45

• $32,128.40

• $8,719.20

[use tax schedule]

Calculate the tax for each of the taxable incomes of a head of household taxpayer. $23,872

• $1,608.30

• $2,923.30

• $3,548

• $4,264.25

Elizabeth works for Picasso Paint Supplies. Her annual salary is $72,580. What is Elizabeth’s annual Social Security deduction?

• $4,499.96

• $44,999.60

• 3,690.45

• $8,621.65

Elizabeth works for Picasso Paint Supplies. Her annual salary is $72,580. What is Elizabeth’s annual Medicare deduction?

• $1,052.41

• $10,544.10

• $6,485.45

• $4,685.15

Elizabeth works for Picasso Paint Supplies. Her annual salary is $72,580. Elizabeth is paid every other week. What is her biweekly gross pay?

• $1,395.77

• $2,791.54

• $6,048.33

• $12,096.67

Elizabeth works for Picasso Paint Supplies. Her annual salary is $72,580. Each pay period, Elizabeth’s employer deducts 21% for federal withholding tax. What is

the total amount withheld for federal tax from Elizabeth’s annual salary?

• $15,241.80

• $293.11

• $586.22

• $21,000

Elizabeth works for Picasso Paint Supplies. Her annual salary is $72,580. If Elizabeth is taxed at an annual rate of 2.875% for city tax, how much is deducted from

her salary per bi weekly paycheck to withhold that tax?

• $80.26

• $78.45

• $84.62

• $40.13