I don't understand how to calculate the employer's payroll taxes with the 7k limit. Employee 1 monthly

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I don't understand how to calculate the employer's payroll taxes with the 7k limit.

Employee 1 monthly gross salary is $6000 ($12,000 made so far this year)

Employee 2 monthly gross salary is $5750 ($10,750 made so far this year)

Employee 3 monthly gross wages is $2460 (first paycheck/new employee)

Employee 3 monthly gross salary is $4730 ($6330.00 made so far this year).

Can you please show me the calculations?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Mar 20, 2024 07:32 AM

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I don't understand how to calculate the employer's payroll taxes with the 7k limit. Employee 1 monthly

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heres how to calculate the employers payroll taxes for each employee considering the 7000 Social Security tax maximum for 2024 Social Security and Med... View the full answer

Income Tax Fundamentals 2013

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