Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage
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Question:
Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax.Calculate the monthly Social Security and Medicare withholdings (in $) for the employee as the payroll manager for a cargo and freight company. (Round your answers to the nearest cent.)
Employee | Year-to-Date Earnings | Current Month | Social Security | Medicare |
---|---|---|---|---|
Andretti, K. | $148,000 | $13,250 | $ | $ |
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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