Wednesday

September 17, 2014

September 17, 2014

Posted by **jon** on Sunday, January 9, 2011 at 6:13pm.

I think it is 8.42%

Darrell owns a consulting business and has an estimated annual income of 63,000.His Social Security tax is 12.4%,Medicare is 2.9%,and his estimated federal income tax rate is 22%.How much quarterly estimated tax must Darrell send to the IRS for the first quarter?

I have 5,874.75

Could someone check these to see if I am right.

- math -
**Henry**, Monday, January 10, 2011 at 4:24pm%Int. = (210.50/6000) 100 = 3.508%

for 150 days.

%Int.=(3.508% / 150 days )360days/yr = 8.42% / yr

- math -
**Bonnie**, Monday, January 10, 2011 at 4:49pmThank You Henry

- math -
**Henry**, Monday, January 10, 2011 at 5:26pmAnnual Taxes = (12.4 + 2.9 + 22)% / 100%)63000 = 23499 /yr.

Quarterly Taxes = 23499 / 4 = 5874.75.

- math -
**Henry**, Monday, January 10, 2011 at 5:32pmGlad I could help!

**Answer this Question**

**Related Questions**

math - The total amount of interest on a loan of $6,000 for 150 days is 210.50....

math - The total amount of interest on a loan of $6,000 for 150 days is $210.50...

math - The total amount of interest on a loan of $6,000 for 150 days is $210.50...

math - the total amount of interest on this loan of $6000 for 150 days is $210....

business mathmatics - the total amount on a loan of 6,000 for 150 days is 210.50...

Business Math - Find the amount of the principal on a loan at 6% interest for ...

Business Math - Joyce took out a loan for $21,900 at 12 percent on March 18, ...

Math - Find the amount of the principal on a loan at 6% interest for 274 days if...

Business Maths - May. 10, 2010, Leven Corp. negotiated a short-term loan of $705...

math - Calculate the amount of interest on a loan of $3,200 at 6% interest for ...