Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tony's employer imputes taxable income of $33 on h

Tony's employer imputes taxable income of $33 on his next 2020 paycheck for his personal...

70.2K

Verified Solution

Question

Accounting

  1. Tony's employer imputes taxable income of $33 on his next 2020 paycheck for his personal use of a company-owned car. His gross wages are $735, FICA is 7.65%, and FITW is 15%. The employer has elected not to withhold federal income tax on the imputed amount. What is his net pay?
    1. $594.05 b. $566.00 c. $599.00 d. $561.05

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Design a clocked synchronous state machine with two inputs, A and B, and a single output...

Electrical Engineering
Q

estion 7 function of the mRNA is to To supply the amino acids during protein...

Biology
Q

2 Two point charges qA 3 Cand qB 3 C are located 20 cm apart...

Physics
Q

Find out the surface charge density of infinite thin metalic sheet parallel to yz plane...

Physics
Q

Sequences For each of these sequences a write the 1st 2nd 3rd 10th and 100th...

Basic Math
Q

Irving lives in Appletown and plans to drive along Highway 42 a straight highway that...

Basic Math
Q

Jessie purchased a used car from a small business They offered to let him finance...

Algebra
Q

10. Standards are designed to evaluate price and quantity variances separately....

Accounting
Q

any of the input fields.) Sokolsky Designs, Inc. Vertical Analysis Years Ended December 31, 2021,...

Accounting
Q

For 2022, Martinez Company reported beginning total assets of $299,000 and ending total assets of...

Accounting
Q

Whitman Company Income Statement The company's selling and administratlve expenses consist of $285,000 per...

Accounting
Q

Congress defines gross income as except as otherwise provided, gross income means all income from...

Accounting