Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $106,800 and a

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Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $106,800 and a Medicare tax rate of 1.45% is applied to all earnings. Calculate the Social Security and Medicare taxes for the followingsituations:

Cumul. Pay Before Current Weckly Payroll Current Amount Over Max. Soc. Sec. Medicare Amount Subject to Soc. Sec. Gross Y
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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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