Susan Thomas Had Gross Earnings of $2,800 Last Week

question 46

Short Answer

Susan Thomas had gross earnings of $2,800 last week. She is married and claims two allowances on her W-4. The amount of each weekly withholding allowance is $65.38. Using the Table for Married Taxpayers above, figure the amount that will be withheld from her paycheck for federal income tax. (Figure withholding to the nearest cent.)​

---

Definitions:

Legal Fiction

A fact assumed by courts for legal reasoning purposes, despite its actual falsehood, often used to achieve equity or adhere to a legal doctrine.

Corporation

A legal entity recognized by law, separate from its owners, with rights to own property, incur debt, sue, and be sued.

General Security Agreement

A contract that creates a security interest in all assets of the borrower, present and future.

Shareholder's Loan

A loan given to a company by one of its shareholders, typically used for startup or growth financing.