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Federal income tax questions. please help!!?

  
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Federal income tax questions. please help!!?

Postby slaine » Mon Jul 16, 2012 12:48 pm

1. true or false:
workers compensation and unemployment compensation are not taxable

2. which is not a taxable income for the recepient?
A. tips B. alimony C. child support D. unemployment compensation

3. Bob earns 8$ an hour, works 40 hours a week, and gets paid every 2 weeks. He pays 63.08$ into federal withholdings, 33.21$ into state withholdings and 42.05$ into FICA. What is bob's GROSS PAY on his paycheck?
What is his NET PAY on his paycheck?
(also can someone explain the difference between the two?)

im sorry i missed the notes to answer these questions in my consumer ed class so any help is appreciated :)!
slaine
 
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Federal income tax questions. please help!!?

Postby kirklin » Mon Jul 16, 2012 12:50 pm

The most important thing to learn is how to find answers. Not be given answers. This is not a homework board. Q 3 is just subtraction. 1 and 2 you can easily find on the IRS website or even just putting the question into google.
kirklin
 
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Federal income tax questions. please help!!?

Postby anson34 » Mon Jul 16, 2012 12:58 pm

1 and 2 you can look up. Missing the notes in class won't stop you.

3. gross pay is his total before deductions. Net is after deductions.
anson34
 
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Federal income tax questions. please help!!?

Postby delron72 » Mon Jul 16, 2012 1:06 pm

This is SPARTA!!!!!

*kicks the IRS into the pit
delron72
 
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