Review for Tax Quiz - Chapter 7

Use the tax schedule above to find the tax for the following incomes. $68,659

  $_________ + __________($__________ - $__________) = $____________

• $43,650

• $12,325.56

• $12,227.25

• $2,256.12

Use the tax schedule above to find the tax for the following incomes. $33,000

  $___________ + _________($_________ - $_________) = $___________

• $4,258.12

• $11,455.28

• $3,358.23

• $4,377.50

Use the tax schedule above to find the tax for the following incomes. $150,000

  $___________ + _________($________ - $_________) = $___________

• $33,897

• $34,897

• $31,654

• $33,683

Use the following worksheet to find the tax for the following incomes.   $137,065

$_________ × _______ = $________ - $________ = $___________

• $30,061.20

• $30,145.45

• $8,317.89

• $13,456.56

Use the following worksheet to find the tax for the following incomes.   $200,650

$_________ × ______ = $________ - $________ = $___________

• $17,437.89

• $48,777.50

• $1778.78

• $42,837.57

Use the following worksheet to find the tax for the following incomes.   $400,000

$________ × ______ = $________ - $_______ = $___________

• $82,456

• $115,409

• $115,897

• $24,591

James made $22,550 last year. He owes $2750  in taxes.  What is the percentage of his income that he has to pay in taxes? Round to the nearest tenth   _________________

• 12.2%

• 12%

• 13%

• 12.19%

Mrs. Jones made $67,800 last year. She owes $8,872 in taxes.    What is the percentage of her income that she has to pay in taxes?  Round to the nearest tenth _________________

• 13.9%

• 13.1%

• 15 %

• 13%

What would be the amount for Medicare Tax Withheld in box 6 based on the percent that is always withheld for medicare?  ________________

• $786.48

• $876.67

• $823.45

• $750.78

Using $54,240 for Social Security wages, what would be the Social Security tax withheld?________________

• $3,362.88

• $1,989.67

• $4,546.54

• $3897.56