Question: During 2 0 2 4 , Mike's current FICA taxable wages are $ 3 , 8 0 0 and will not change for the remainder

During 2024, Mike's current FICA taxable wages are $3,800 and will not change for the remainder of the year. As of the 48th pay, he had earned $163,300 as FICA taxable income which included a sizable bonus earlier in the year. Determine the amount of FICA taxes to be withheld from the next three payroll periods.
ASSUME 2024 TAX CAPS
NOTE - Do Not enter Dollar Signs. Round all amounts to the nearest Penny
To see the answer boxes listed correctly, fully open your screen. For example, the Social Security W/H should be entered first for week 49 followed by the Medicare W/H.
Social Security W/H Medicare W/H
WEEK 49
WEEK 50
WEEK 51

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!