Business Math Chapter 2

On the W-2 provided, how much did this employee pay in state income tax in 2022?

• $50,000

• $5,098.50

• $3,100

• $1,320.43

Using the W-2 provided, what are the gross wages for this person?

• $50,000

• $5,098.50

• $3,100

• $1,320.43

Using the W-2 provided, how much did this employee pay in federal income tax in 2022?

• $50,000

• $5,098.50

• $3,100

• $1,320.43

On the 1040 form, which of these boxes would contain their total income?

• Box 9

• Box 12

• Box 15

• Box 24

According to his W-2, Bob paid $3570 in federal withholding taxes for the year. What box on the 1040 form would he put that number?

• Box 9

• Box 16

• Box 1a

• Box 25a

Using the W-2 provided, assuming this person took the standard deduction for 2022 what would their taxable income be?

• $50,000

• $62,950

• $37,050

• $25,900

A person has a taxable income of $45,689 and they are filing as a single person. How much do they need to pay in federal income taxes for the year?

• $5,428

• $5,356

• $5,367

• $5,041

John was paid $57,986 last year. He is taking the standard deduction. How much tax does he owe?

• $5,213

• $5,202

• $5,083

• $4,963

A married couple had a combined income of $105,980 in 2022. They took the standard deduction. How much is their combined taxable income?

• $80,080

• $93,030

• $105,980

• $107,988

Jerry used the tax table and found out that he should have paid a total of $3,450 in taxes for the year. Where does he put that number on the 1040 form?

• Box 16

• Box 26

• Box 34

• Box 1a