Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of$12,600.
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Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of$12,600. He is single and claims 1 deduction. Before his payroll,
Barrett’s cumulative earnings were $128, 030. (Social Security maximum is 6.2% on. $128,400 and Medicare is 1.45%) Calculate FIT by the percentage method. (Use Table 9.1 and Table 9.2) (Round your answers to 2 decimal places).
FIT:
Related Book For
Principles of Taxation for Business and Investment Planning 2016 Edition
ISBN: 9781259549250
19th edition
Authors: Sally Jones, Shelley Rhoades Catanach
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