RJR Roofing has 1,000 employees that are paid $1,000 every other week (they each earn $500...
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RJR Roofing has 1,000 employees that are paid $1,000 every other week (they each earn $500 per week). Assume that Social Security and Medicare taxes are 6.2% and 1.45% respectively, federal and state unemployment taxes are 3% combined (payable on the first $8,000 earned per employee), and employees are subject to 10% federal income tax withholding. What is the total amount of cash that RJR Roofing will ultimately pay related to their first payroll payment of the year? RJR Roofing has 1,000 employees that are paid $1,000 every other week (they each earn $500 per week). Assume that Social Security and Medicare taxes are 6.2% and 1.45% respectively, federal and state unemployment taxes are 3% combined (payable on the first $8,000 earned per employee), and employees are subject to 10% federal income tax withholding. What is the total amount of cash that RJR Roofing will ultimately pay related to their first payroll payment of the year?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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