Which individual is a producer?
a host who seats customers in a busy restaurant
a mother who demands quality produce for her family
a farmer who grows only what his family needs to survive
a student who builds a bookcase from bricks and boards
The individual who is a producer is the farmer who grows only what his family needs to survive.
Harry and Helen are married, filing jointly. Their combined taxable income is $65,922. Every week, a total of $187 is withheld from their pay. Based on the table below, what can Harry and Helen expect when their taxes are due?
Between 65,900 and 65,950 dollars, for filing jointly, the tax is 9,169 dollars.
a.
Harry and Helen will owe an additional $193.
b.
Harry and Helen will owe an additional $3,104.
c.
Harry and Helen will receive a refund of $724.
d.
Harry and Helen will receive a refund of $555.
Based on the given information, Harry and Helen have a taxable income of $65,922. According to the table, their tax amount would be $9,169.
However, every week a total of $187 is withheld from their pay, so we need to calculate the total amount withheld over the course of the year.
Since there are 52 weeks in a year, we multiply $187 by 52 to get a total of $9,724.
The amount withheld ($9,724) is higher than the tax amount ($9,169), so Harry and Helen can expect a refund.
The refund amount would be the difference between the tax amount and the amount withheld, which is $9,724 - $9,169 = $555.
Therefore, option d. Harry and Helen will receive a refund of $555 is the correct answer.