Crull and Co (EIN 35-3333333) has 2 employees during the 4th quarter. Everyone is paid weekly. Larry earns $19/hour and Marie is salaried and will earn $3,570 this pay period. They work 40 hours per week for 13 weeks in the quarter (assume Dec. has the 5th week). This is the 48th pay (first pay of Dec.). 401K Medical Prem. Flexible Sp. United Way donation Child Support Larry 100 90 80 120 75 Marie 320 110 90 0 0 What is Larry's Federal taxable income? What is Marie's Medicare taxable income? What is Marie's Social Security taxable income? What is Marie's Federal taxable income?
Added by Jeremiah B.
Step 1
To find his gross pay for the pay period: - Gross Pay = Hourly Rate x Hours Worked per Week x Weeks in Pay Period - For Larry: Gross Pay = $19 x 40 x 1 (since we're calculating for the first pay of December, which is one week) - Gross Pay for Larry = $760 Show more…
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