An electric device delivers a current of [tex]$15.0 A$[/tex] for 30 seconds. How many electrons flow through it?
Answer (2)
Calculate the Social Security tax: $2400 \times 0.062 = $148.80.
Calculate the Medicare tax: $2400 \times 0.0145 = $34.80.
The Federal income tax withheld is $$90.00.
The taxes to be withheld are Social Security $148.80 , M e d i c a re $34.80, and Federal income tax $90.00 , res u lt in g in t h e f o ll o w in g f ina l an s w er : \boxed{$148.80, $34.80, $90.00}$.
Explanation
Understanding the Problem We are asked to compute the taxes to be withheld from the employee's gross pay for September. These include Federal income tax, FICA Social Security tax, and FICA Medicare tax. We are given that the Federal income tax withheld is $90. We need to calculate the Social Security and Medicare taxes.
Calculating Social Security Tax The FICA Social Security tax is 6.2% of the first $137,700 of earnings. The employee's gross pay through August 31 is $5,208, and their gross pay for September is $2,400. Since $5,208 + $2,400 = $7,608, which is less than 137 , 700 , t h ee n t i re S e pt e mb ere a r nin g s a res u bj ec tt o S oc ia lS ec u r i t y t a x . T h e S oc ia lS ec u r i t y t a x i sc a l c u l a t e d a s f o ll o w s : S oc ia lS ec u r i t y T a x = S e pt e mb er E a r nin g s × S oc ia lS ec u r i t y T a x R a t e S oc ia lS ec u r i t y T a x = $2 , 400 × 0.062 = $148.80 $
Calculating Medicare Tax The FICA Medicare tax is 1.45% of gross pay. The entire September earnings of 2 , 400 a res u bj ec tt o M e d i c a re t a x . T h e M e d i c a re t a x i sc a l c u l a t e d a s f o ll o w s : M e d i c a re T a x = S e pt e mb er E a r nin g s × M e d i c a re T a x R a t e M e d i c a re T a x = $2 , 400 × 0.0145 = $34.80 $
Federal Income Tax We are given that the Federal income tax withheld is $90.
Summary of Taxes Now, we can summarize the taxes to be withheld from gross pay:
Federal income tax: $90.00 FICA Social Security tax: $148.80 FICA Medicare tax: $34.80
Examples
Understanding payroll taxes is crucial for both employers and employees. For example, knowing how Social Security and Medicare taxes are calculated helps employees plan for retirement and healthcare expenses. Employers need to accurately calculate and remit these taxes to comply with legal requirements and avoid penalties. This knowledge extends to personal finance, where understanding tax implications affects investment and savings strategies. Calculating these taxes correctly ensures financial stability and compliance in various aspects of life and business.
A current of 15.0 A flowing for 30 seconds delivers a total charge of 450 C . This charge corresponds to approximately 2.81 × 1 0 21 electrons flowing through the device. The calculation uses the relationship between current, charge, and the charge of a single electron.
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