If You Have a Salary of $30,000,an IRA Deduction of $2,000,a

question 91

Multiple Choice

If you have a salary of $30,000,an IRA deduction of $2,000,a standard deduction of $6,300,and a FICA rate of 7.65 percent,how much did you pay in FICA this year?

• A) $1,805
• B) $1,958
• C) $2,142
• D) $2,295

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Definitions:

Registered Outstanding Mortgage

A mortgage that is officially recorded and still has an outstanding balance not yet paid off.

Purchase Agreement

A legally binding contract outlining the terms and conditions under which a transaction (sale and purchase) of goods, services, or property is made.

Assumption

The act of taking on a duty, responsibility, or belief, often based on a logical premise or evidence.

Sheriff's Certificate

A document issued by a sheriff as part of legal proceedings, often confirming the status of something, such as the outcome of a sale or possession of property.