Cards in this guide (22)
How many hours do you spend at work in a year
The average full-time working American works roughly 40 hours
per week. This averages to be 2,080 hours per year. Part- time
workers usually work 20 hours per week, which calculates to 1040
hours per year.
FICA tax is the same as federal income tax
NO - however it is paid to the IRS. Federal Income Tax is just
what it sounds like and pays for federally funded programs. FICA is
Social Security Income and goes to pay into the fund for Social
Security Programs.
What percentage of gross income is withheld as an employee's contribution to Medicare
What institution insures individual banking accounts
minimum check-writing fee
What is the best definition of a progressive tax system
a tax system that takes a larger proportion of income from
high-income people than from low-income people
What type of tax is levied on goods bought in a store
What type of tax is paid left by a person who has died
Which of these is the best description of an expense budget
It is a plan that shows how money will be saved and spent over a
period of time.
Hey I needed that answer but it's pretty cool my sister posted
it and I had no clue!! :P
-Stephy
Which tax withholding is required by the federal government
Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59
Sherry had an ending balance of 125.36 outstanding deposits of 153.53 and outstanding checks of 100.19 What was her checkbook balance
Does a higher education necessarily mean that you will get paid more money
The Social Security tax is 6 2 percent and the Medicare tax is 1 45 percent of your annual income How much would you pay per year to FICA if your annual earnings were 47000
47000 times 7.65 % the amount of FICA would be 3595.50.
What would be the approximate Social Security monthly benefit for a person who earns 22000 per year
Which of these should represent the smallest portion of your budget
What best describes the person who oversees the reading of your will and ensures your last wishes are followed
What does not belong in the miscellaneous category
Questions that can be categorized belong in the closest category
for that subject. Other questions are harder to categorize and are
in Miscellaneous until they are assigned a category.
Which type of insurance contract requires a lump-sum or periodic payment in exchange for receiving periodic payments from the insurance company
Whole Life, Universal Life, as well as Annuities can be used for
this purpose.
To ensure that you do not have a total consumption budget which two categories should be added to your budget
savings and miscellaneous
At what level are people considered to be low-income
You are considered low income if you make more than the poverty
level, but less than 150% of the poverty level. This also depends
on where you live, and how many dependents you have.
For a family of four in the United States in 2014, the poverty
line is $23,850. If your household income is more than that, but
less than $35,775, you are considered low income.
At what age can a person no longer contribute to a traditional IRA
Angela wants to calculate her take-home pay. She earns 1377 monthly. She pays federal tax of 200 state tax of 41.31 and 7.65 in FICA tax. What is Angela's monthly net pay
