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  3. sam earned $ 43500 from wages and 1250 in interest

Sam earned $ 43500 from wages and 1250 in interest and made tax deferred contributions...

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Accounting

Sam earned $ 43500 from wages and 1250 in interest and made tax deferred contributions of $ 4000 to a retirement fund. Sam is single and uses standard deductions. Calculate the total Federal tax bill. ( This is income tax and FICA taxes totaled together. Use tax rates in book. Sam is single and takes standard deductions)

25% Tax Rate

$6100 Standard Deduction

$3900 Expemtion Per Person

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