Help getting the answer to #5!! I need the answers for the Social Security , Medicare, and the Vol. Withholding!! Payroll RegisterPay Period09/06/2020Pay Date09/12/2020EarningsDeductionsEmployeeRegular RegularRegularOvertimeOvertimeOvertimeTotalVol. With.Net PayFWTSWTSocialMedicareCheckNameHoursRateEarningsHoursRateEarningsEarningsSecurityNumberWilliams, L40$7.50$300.004$11.25$45.00$345.00$15.00$14.84%24$24$Olsen, J40$9.10$364.00$13.65$95.55$459,55$12.00$17.98$$2424Upton, N40$11.80$472.002$17.70$35.40$507.40$3.00$25.37$$24Rodriguez, J 40$14.00$560.008.$21.00$168.00$728.00$53.00$31.672$242$24Painter, D40$16.60$664.0011$24.90$273.90$937.90$25.00$44.40%242$2$%24$$%2424%2$2$$$2$%24$$$$$$$Totals:$2,360.00$617.85$2,977.85 $108.00$134.26 $24$ Complete the remaining columns of the payroll register for the five employees whose information was provided in PSa 2-4, PSa 2-12, and PSa 3-8. All employees work in a state that does not require thewithholding of disability insurance, and none of the employees files a tax return under married filing separately status. Additional information for each employee is provided below:5. Drew Painter earns $16.60/hour, and worked 51 hours during the most recent week. He participates in a flexible spending account, to which he contributes $50 each period. Drew Painter is married, claimsfive federal withholding allowances and four state withholding allowances. Drew Painter voluntarily deducts life insurance of $20 and a charitable contribution of $25 each pay period. His year-to-date taxableearnings for Social Security tax, prior to the current pay period, are $51,750, and he is paid with check #0504.Notes:• For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

A payroll register will consist of all the details of each employee relating to their payroll check…

5. Drew Painter earns $16.60/hour, and worked 51 hours during the most recent week. He participates in a flexible spending account, to which he contributes $50 each period. Drew Painter is married, claims five federal withholding allowances and four state withholding allowances. Drew Painter voluntarily deducts life insurance of $20 and a charitable contribution of $25 each pay period. His year-to-date taxable earnings for Social Security tax, prior to the current pay period, are $51,750, and he is paid with check #0504. Notes: • For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

5. Drew Painter earns $16.60/hour, and worked 51 hours during the most recent week. He participates in a flexible spending account, to which he contributes $50 each period. Drew Painter is married, claims five federal withholding allowances and four state withholding allowances. Drew Painter voluntarily deducts life insurance of $20 and a charitable contribution of $25 each pay period. His year-to-date taxable earnings for Social Security tax, prior to the current pay period, are $51,750, and he is paid with check #0504. Notes: • For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter4: Income Exclusions

Section: Chapter Questions

Problem 70IIP: In each of the following problems, identify the tax issue(s) posed by the facts presented. Determine...

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