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1a. Briefly describe the reason and calculation behind the Social security and Medicare taxes you might see in your annual W2?

2a. Phan Mai is a single taxpayer with two dependent children under age 17. Phan estimates her wages for the year will be $36,000, will have $5,700 of dependent care expenses, and her itemized deductions will be $11,000.

Phan files as the Head of Household. Follow the steps in Form W-4 to determine how many withholding allowances should Phan claim.

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92754793

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