1. Monday March 6, 2017
***Check on H&R Budget Challenge*** Personal exemptions: Single - $2,000 Married- $4,000 Each dependent- $2,000 1) Martin Tabor’s gross pay for the year is $28,500. The state income tax rate is 3.5 percent. If Tabor takes a single exemption for himself, how much is withheld from his yearly earnings for state income tax? Find the annual state income tax withheld for the following problems. 2) Gross pay: $38,550; married, 2 dependents; state income tax rate: 3 percent.

2. Tuesday March 7, 2017
***Check on H&R Budget Challenge***
1) Karla’s annual salary is $28,500. She is paid biweekly. Her personal exemptions total $1,500. The state income tax is calculated on the following graduated basis: 2.5 percent of the first $25,000 and 3.5 percent over $25,000.
a) Find the taxable wages.
b) Find the annual tax withheld.
c) Find the tax per period.

3. Wednesday March 8, 2017
***Check on H&R Budget Challenge*** Social security- 6.2% for first 90,000 Medicare- 1.45% of annual income 1) Adrian’s weekly pay is $1,750. What amount is deducted this week for Social Security taxes? For Medicare taxes? 2) A nurse’s aide has earned $21,760. She earned $1,970 this month. How much is deducted this month for Social Security? For Medicare? 3) A teacher has earned $20,385. She earned $1,020 this biweekly pay period. How much is deducted this pay period for Social Security? For Medicare?

4. Thursday March 9, 2017
***Check on H&R Budget Challenge***
Social security- 6.2% for first 90,000 Medicare- 1.45% of annual income
For questions 1 – 3, find the combined Social Security and Medicare taxes withheld for the pay period.
1) Weekly salary: $650. Earnings to date: $30,000
2) Biweekly salary: $1,850. Earnings to date: $37,000
3) Monthly salary: $8,500. Earnings to date: $86,500

5. Friday March 10, 2017
***Check on H&R Budget Challenge***
1. Annual cost of insurance: $4,200; employer pays 70 percent; pay period: semimonthly.
2. Annual cost of insurance: $3,975; employer pays 60 percent; pay period: weekly.
3. Annual cost of insurance: $2,850; employer pays 55 percent; 12 pay periods.