Question: Given the information below, what are the Assistant Project Manager's wages that are subject to payroll taxes? . Assistant Project Manager Makes $65,000 per

Given the information below, what are the Assistant Project Manager's wages that

 

Given the information below, what are the Assistant Project Manager's wages that are subject to payroll taxes? . Assistant Project Manager Makes $65,000 per year Gets a $2000 Christmas bonus Gets $500/mo truck allowance Medicare tax is 1.45% of entire wage Social Security tax is 6.2% of first $128,700 of wages No SUTA . . (FUTA) Company can take the full 5.4% credit against the FUTA liability . Company's compensation insurance rate is $2.04 per $100 in wages . Company's general liability insurance rate for office personnel is 0.70% of wages Company pays $150/month to health insurance with $250 deducted from employee's paycheck Company matches employee's contributions to a 401(k) plan at a rate of $0.50 per $1.00 contributed by the employee on the first 6% of employees' wages (including allowances) 50% match up to 6% of wages for 401(k) plan . .

Step by Step Solution

3.47 Rating (157 Votes )

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!