How much did he contribute to fica taxes

Assignment Help Financial Management
Reference no: EM131306479

1. FICA Taxes. Matt is self-employed as a carpenter. He made $42,000 after expenses in 2012. How much did he contribute to FICA taxes?

2. Capital Gains Tax. Stephen is in a 15% marginal tax bracket. In 2012, he sold stock that he had held for nine months for a gain of $1,900. How much tax must he pay on this capital gain? How much would the tax be if he had held the stock for 13 months?

Reference no: EM131306479

Questions Cloud

What will be your balance at that time : investment is expected to generate $2,000,000 each year for five years. If the firm's cost of funds is 5%, what is the maximum amount the firm should pay for the investment? You put $200,000 in the bank today; if the annual interest rate paid by the ..
How much will be withheld from her weekly check : Alys makes $450 per week. How much will be withheld from her weekly check for Social Security tax? Medicare tax? Total FICA taxes?
How working virtually helped or hindered your results : Work with two other class members in a virtual environment on this exercise. Write a short paper or presentation that summarizes your analysis and opinions of how working virtually helped or hindered your results.
A call provision grants the bond issuer the : A call provision grants the bond issuer the:
How much did he contribute to fica taxes : Matt is self-employed as a carpenter. He made $42,000 after expenses in 2012. How much did he contribute to FICA taxes?
New level of receivables investment : When converting annual data to daily data or vice versa in these problems, assume there are 365 days per year. Suppose that, as the result of a recession, annual credit sales decline by 10 percent to $18 million, and customers delay their payments to..
What stakeholders require communication : What stakeholders require communication? What will be communicated to them? Who will send the communication? What communication medium will be used? minimum of 4 scholarly references.
How much tax will stuart pay on this gain : Stuart is in the 25% tax bracket. Recently, he sold stock that he had held longer than a year for a gain of $20,000. How much tax will Stuart pay on this gain?
Average daily credit sales and average collection period : Miranda Tool Company sells to retail hardware stores on credit terms of “net 30”. Annual credit sales are $18 million and are spread evenly throughout the year. The company’s variable cost ratio is 0.70, and its accounts receivable average $1.9 milli..

Reviews

Write a Review

Financial Management Questions & Answers

  Should blades establish a subsidiary in thailand

Should the sales resulting from a renewed agreement be included? Why or why not?- Should Blades establish a subsidiary in Thailand under these conditions?

  Assume that the bond has just been issued

A 7-year, 11.00% semiannual coupon bond with a par value of $1000 may be called in 5 years at a call price of $1,155.00. The bond sells for $970.50. (Assume that the bond has just been issued.). What is it’s yield to maturity?

  What is the market rate of return on this stock

The common stock of Eddie's Engines, Inc. sells for $45.08 a share. The stock is expected to pay $3.50 per share next year. Eddie's has established a pattern of increasing their dividends by 5.6 percent annually and expects to continue doing so. What..

  What would be the before-tax cost of debt

What would be the before-tax cost of debt (rd) for a company that currently has 10-year, 12% annual coupon bonds outstanding? The bonds are currently selling in the market for $1,200 and have a $1,000 par value. Given the information found in questio..

  Calculate the restocking costs

Clap Off Manufacturing uses 2,300 switch assemblies per week and then reorders another 2,300. Assume the relevant carrying cost per switch assembly is $6.00 and the fixed order cost is $570. Calculate the restocking costs. Calculate the economic orde..

  Types of costs included in the marketing budget

Let's discuss the types of costs included in the marketing budget. Which do you think is the most difficult to budget for and why?

  Find cash flow from the mark-to-market proceeds on contract

The multiplier for a futures contract on a certain stock market index is $250. The maturity of the contract is one year, the current level of the index is 1,500, and the risk-free interest rate is 0.2% per month. The dividend yield on the index is 0...

  What is the firms horizon or continuing-value

Hart Enterprises recently paid a dividend, D0, of $3.25. It expects to have nonconstant growth of 14% for 2 years followed by a constant rate of 4% thereafter. The firm's required return is 17%. How far away is the horizon date?What is the firm's hor..

  Command contains different stratification levels

A clearly demarcated chain of command contains different stratification levels. This concept is evident in a ________. A: Conferred membership status B: Status HIerarchy C: Position level D: Role Status

  About the experiencing rapid growth

Navel County Choppers Inc. is experiencing rapid growth. The company expects dividends to grow at 16 percent per year for the next 8 years before leveling off at 6 percent into perpetuity. The required return on the company’s stock is 15 percent.

  Payment-interest-principal and loan balance

With a 30 year 9% loan of $200,000, how much of your yearly payment would be interest and how much would be principal for the first 4 years? Calculate the following : payment, interest, principal, loan balance(E.O.Y.), for each year.

  How much will the insurer pay for the loss

A fire damaged one bedroom. The actual cash value of the loss is $10,000. The cost of repairs is $16,000. How much will the insurer pay for the loss?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd