John Doe, Inc., has employees that eam a monthly gross pay of $500,000. The income tax...

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John Doe, Inc., has employees that eam a monthly gross pay of $500,000. The income tax rate is 20%. FICA (Social Security and Medicare) withholdings are 7.65%. What is the total cash that John Doe, Inc., will pay its employees each month? For the month of December, Payless, Inc.'s gross payroll was $100,000. Income taxes withheld totals $20,000 The FICA (Social Security and Medicare) rate is 7.65% How much will Payless, Inc., have to pay the government for income taxes and FICA? Remember that the company is responsible for paying for both the employee's and the company's share of FICA Total Cash Paid to the Government equals $ John Doe, Inc., has employees that eam a monthly gross pay of $500,000. The income tax rate is 20%. FICA (Social Security and Medicare) withholdings are 7.65%. What is the total cash that John Doe, Inc., will pay its employees each month? For the month of December, Payless, Inc.'s gross payroll was $100,000. Income taxes withheld totals $20,000 The FICA (Social Security and Medicare) rate is 7.65% How much will Payless, Inc., have to pay the government for income taxes and FICA? Remember that the company is responsible for paying for both the employee's and the company's share of FICA Total Cash Paid to the Government equals $

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For John Doe Inc The total monthly income tax withholding is 500000 20 100000 ... View the full answer