Question: Social Security rate - 6 . 2 % on the first $ 1 4 2 , 8 0 0 of gross earnings Medicare rate -

Social Security rate -6.2% on the first $142,800 of gross earnings
Medicare rate -1.45%
FUTA rate -0.6% on the first $7,000 of gross earnings
Don't forget, you must show ALL work/calculations to receive full credit! Also, be sure to round to two decimal places after EVERY calculation.
Question 7(24 points)
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Charlie Smith (single; 2023 W-4 with no information in steps 2-4) earned weekly gross pay of $2,680. For each pay period, he contributes $95 to a flexible spending account. Use the percentage method to calculate his federal income tax withholding.

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