Calculate the Social Security Tax and Medicare Tax columns of the payroll register for the below-listed employees of TCLH Industries, a manufacturer of cleaning products. None of the employees files as married filing separately on their year-end tax return. 1. Zachary Fox does not make any voluntary deductions that impact earnings subject to federal income tax withholding. He files as married filing jointly, and his weekly gross pay was $1,162. When completing form W-4, Zachary checked box 2c, entered $2,000 in step 3 of the form, and left step 4 blank. The current pay period is his first with the company. 2. Calvin Bell makes a 401(k) retirement plan contribution of 6% of gross pay. He is single, claims two federal withholding allowances and one state withholding allowance, and his weekly gross pay was $417.93. His current year taxable earnings for FICA taxes, prior to the current pay period, are $20,478.57. 3. David Alexander makes a 401(k) retirement plan contribution of 12% of gross pay. He is single, claims one withholding allowance for both federal and state taxes, and his weekly gross pay was $4,050. His current year taxable earnings for FICA taxes, prior to the current pay period, are $198,450. 4. Michael Sierra contributes $50 to a flexible spending account each period. He is married, claims four federal withholding allowances and three state withholding allowances, and his weekly gross pay was $2,450. His current year taxable earnings for FICA taxes, prior to the current pay period, are $117,600. 1: Zachary Fox Social Security Tax = $ Medicare Tax = $ 2: Calvin Bell Social Security Tax = $ Medicare Tax = $ 3: David Alexander Social Security Tax = $ Medicare Tax = $ 4: Michael Sierra Social Security Tax = $ Medicare Tax = $
Calculate the Social Security Tax and Medicare Tax columns of the payroll register for the below-listed employees of TCLH Industries, a manufacturer of cleaning products. None of the employees files as married filing separately on their year-end tax return. 1. Zachary Fox does not make any voluntary deductions that impact earnings subject to federal income tax withholding. He files as married filing jointly, and his weekly gross pay was $1,162. When completing form W-4, Zachary checked box 2c, entered $2,000 in step 3 of the form, and left step 4 blank. The current pay period is his first with the company. 2. Calvin Bell makes a 401(k) retirement plan contribution of 6% of gross pay. He is single, claims two federal withholding allowances and one state withholding allowance, and his weekly gross pay was $417.93. His current year taxable earnings for FICA taxes, prior to the current pay period, are $20,478.57. 3. David Alexander makes a 401(k) retirement plan contribution of 12% of gross pay. He is single, claims one withholding allowance for both federal and state taxes, and his weekly gross pay was $4,050. His current year taxable earnings for FICA taxes, prior to the current pay period, are $198,450. 4. Michael Sierra contributes $50 to a flexible spending account each period. He is married, claims four federal withholding allowances and three state withholding allowances, and his weekly gross pay was $2,450. His current year taxable earnings for FICA taxes, prior to the current pay period, are $117,600. 1: Zachary Fox Social Security Tax = $ Medicare Tax = $ 2: Calvin Bell Social Security Tax = $ Medicare Tax = $ 3: David Alexander Social Security Tax = $ Medicare Tax = $ 4: Michael Sierra Social Security Tax = $ Medicare Tax = $
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 4BCRQ
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Can you answer each question.
Transcribed Image Text:Calculate the Social Security Tax and Medicare Tax columns of the
payroll register for the below-listed employees of TCLH Industries, a
manufacturer of cleaning products. None of the employees files as
married filing separately on their year-end tax return.
1. Zachary Fox does not make any voluntary deductions that
impact earnings subject to federal income tax withholding. He
files as married filing jointly, and his weekly gross pay was
$1,162. When completing form W-4, Zachary checked box 2c,
entered $2,000 in step 3 of the form, and left step 4 blank. The
current pay period is his first with the company.
2. Calvin Bell makes a 401(k) retirement plan contribution of 6% of
gross pay. He is single, claims two federal withholding
allowances and one state withholding allowance, and his weekly
gross pay was $417.93. His current year taxable earnings for
FICA taxes, prior to the current pay period, are $20,478.57.
3. David Alexander makes a 401(k) retirement plan contribution of
12% of gross pay. He is single, claims one withholding allowance
for both federal and state taxes, and his weekly gross pay was
$4,050. His current year taxable earnings for FICA taxes, prior to
the current pay period, are $198,450.
4. Michael Sierra contributes $50 to a flexible spending account
each period. He is married, claims four federal withholding
allowances and three state withholding allowances, and his
weekly gross pay was $2,450. His current year taxable earnings
for FICA taxes, prior to the current pay period, are $117,600.
Transcribed Image Text:1: Zachary Fox
Social Security Tax = $
Medicare Tax = $
2: Calvin Bell
Social Security Tax = $
Medicare Tax = $
3: David Alexander
Social Security Tax = $
Medicare Tax = $
4:
Michael Sierra
Social Security Tax = $
Medicare Tax = $
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