The Tracer family expects their income next year to be $81,500. Assume that they budget the same percents for each expense category as the y did last year. Show the percent, rounded to the nearest half percent, and the amount of money they will spend during the year for each of the following.

Entertainment

The Tracer family expects their income next year to be $81,500. Assume that they budget the same percents for each expense category as the y did last year. Show the percent, rounded to the nearest half percent, and the amount of money they will spend during the year for each of the following.

Food

What fractional part of their annual savings were the Tracers' Januar y payments for savings?

Change to a fraction in its simplest form.

$$\frac{\$ 27,400}{\$ 82,200}$$

Change to a fraction in its simplest form.

$$\frac{\$ 9,850}{\$ 59,100}$$

Change to a fraction in its simplest form.

$$\frac{\$ 10,756}{\$ 26,890}$$

Find the Social Security tax and Medicare tax on each weekly wage. Use a 6.2% Social Security tax rate on a maximum of $102,000 gross wages and a 1.45% Medicare tax rate on all wages.$475.00

Change to percents.

1

All the Madisons paid FICA taxes at $7.65 \%$ on their gross wages.

What total amount of state income, federal income, and FICA taxes did the parents pay?

The Madisons' son, Dwayne, earned $\$ 2,130$ last summer to help with the cost of his schooling. He also earned $\$ 84$ in interest through his savings account. His employer deducted $\$ 256$ in federal and $\$ 78$ in state withholding taxes. Dwayne needs to complete state and federal income tax returns in order to get refunds of the taxes that were withheld from his wages.

How much federal income tax refund should Dwayne expect?

The Madisons' son, Dwayne, earned $\$ 2,130$ last summer to help with the cost of his schooling. He also earned $\$ 84$ in interest through his savings account. His employer deducted $\$ 256$ in federal and $\$ 78$ in state withholding taxes. Dwayne needs to complete state and federal income tax returns in order to get refunds of the taxes that were withheld from his wages.

How much state income tax refund should Dwayne expect?

The Madisons also must complete a state income tax return and pay a tax on the amount of taxable income shown on their federal return.

The Madisons employer deducted $\$ 706$ in state withholding taxes during the year. Will they have to pay more state income taxes or will they receive a refund, and what is the amount?

The Madisons complete their joint federal income tax return for last year's income. Their gross income last year was $\$ 44,150$. They had adjustments to income for an approved retirement plan of $\$ 2,870$. They also itemized their deductions and found a total of $\$ 8,380$. They claimed three exemptions (one each for Twanya, Lewellyn, and their son) at $\$ 3,100$ each.

The Madisons' employer deducted $\$ 2,704$ in federal withholding taxes during the year. Will the Madisons have to pay more taxes or will they receive a refund, and what is the amount?

Calli Burns was paid $14.56 an hour for 37.5 hours last week.

How much was deducted for socia l security taxes at 6.2 %