Business Math: Chapter 2.1 and 2.2 review

An amount subtracted from gross pay is a(n) (a)   .

Adjusted gross income less deductions and exemptions is (a)   .

Gross pay less deductions is (a)   .

The amount left after subtracting adjustments to income from gross income is (a)   .

Christy Bellows is a married worker earning $612.83 each week. She claims 3 withholding allowances. What amount should be deducted from her weekly earnings for federal withholding taxes?

(a)  

Luisa Medina is paid $556 a week. Her employer deducts $56 for federal withholding tax, $54.78 for insurance, 6.2% for Social Security taxes, and 1.45% for Medicare taxes. For the week, what are her Social Security and Medicare taxes, total deductions, and net pay?

(a)  

Jorge Viscano had $38,000 in adjusted gross income last year. He took the standard deduction of $5,450 and one exemption for himself for $3,500. What was his taxable income for the year?

(a)  

Elena Alvarez is a high school student and her parents claim her as a dependent on their tax return. Elena works part-time and earned $2,490 last year. Her employer deducted $320 in withholding taxes. Elena also earned $320 in interest on a savings account and had no adjustments to income. Elena wants to file for a refund and claim the standard deduction instead of itemizing deductions. What is the amount of Elena's refund?

(a)