I’m studying for my Business class and need an explanation.
6). If you had a job for the 1st six months of the year that paid you $75,000 in gross income and then switched jobs to one that paid you $90,000 in gross income for the last six months of the year, how much in total payroll taxes would have been withheld from your paychecks for the year?
7). You had a great job working on the oil rigs in Texas making an average of $100,000 per year.After 9 years and 2 months working this job you got hurt and can’t work anymore.How many quarters of coverage have your earned for Social Security?Is this person fully insured for Social Security purposes?
8). Assume you have been married to Rachel (age 38) for 9 years and have 3 children, Jim age 16, Sam age 13, and Anna age 8.In addition, your parents, Betty (age 61) and John (age 64), are living with you because of their poor health.You have a spouse, Margaret (age 39), from a previous marriage that lasted 5 years before ending in divorce.You suddenly die. At the time of your death you had 55 consecutive quarters of Social Security coverage.Who can claim your Social Security survivor benefits?