1. Greg and Noelle both work at Comcast. In the year 2016, Greg makes $75,000 and Noelle makes $140,000. How much in total does each pay in social security taxes?
2. Regina and Brittany work for Google. They both make $50,000 and they also each have $3500 a year in child care expenses. Regina deposits $3500 a year into a dependent care flexible spending account while Brittany does not. They both have a tax rate of 25%. How much does Regina save vs. Brittany in a given year?
3. In 2017, Dave is in an indemnity medical plan with a $1000 annual deductible and 80/20 split after the tax deductible.
3A. On 2/15/2017 Greg injures his arm and goes to the emergency room. The cost of his visit is $1500. How much of that bill is Dave responsibly for?
3B. On 5/13/2017 Dave falls off a ladder and breaks his leg. His hospital stay costs $7,000. How much of the bill is Dave responsible for now after the second incident?
This question was answered on: Sep 18, 2020
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