$8,950.
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- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.Sean's gross pay for this month is $8,950. His gross year-to-date pay, prior to this month, totaled $130,500. Sean's rate for federal income tax is 24%. His voluntary deductions total $1,100. What is Sean's net pay? (Assume an OASDI rate of 6.2%, applicable on the first $132,900 earnings, and a Medicare rate of 1.45%, applicable on all earnings. Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) OA. $5,702 OB. $6,802 OC. $6,523 O D. $5,423Tim's gross pay for this month is $8,850. His gross year−to−date pay, prior to this month, totaled $127,000. What is the amount of FICA tax withheld from Tim's pay for this month? (Assume an OASDI rate of 6.2%, applicable on the first $132,900 earnings, and a Medicare rate of 1.45%, applicable on all earnings. Do not round any intermediate calculations, and round your final answer to the nearest cent.)
- Cory Hunter's earnings are subject to deductions for Social Security, Medicare, and FIT. To date his cumulative earnings are $110,000. This week Cory earns $2,000. Cory, who is married, is paid weekly and files jointly. Assume the Social Security rate is 6.2% on a maximum of $ 142,800 and 1.45% for Medicare. Use percentage method to calculate FIT. His net pay for the week is ? A $1, 956.17 B $2, 036.60 C $1, 672.60 D $2,031.70Baker Green's weekly gross earnings for the week ending December 7 were $3,200, and her federal income tax withholding was $384. Assuming the social security rate is 6.0%, the Medicare rate is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar. ?Addison's earnings are subject to deductions for social security, medicare, and FIT. Addison's cummulative earnings are $142,000. This week Addison earns $1,900. Addison who is married, is paid weekly. Assume social security rate is 6.2% on 142,800 and 1.45% for Medicare. Addison's net pay for the week is: (use percentage table in handbook to calculate FIT):
- Amy's gross pay for the week is $850. Her deduction for federal income tax is based on a rate of 25%. She has voluntary deductions of $255. Her year−to−date pay is under the limit for OASDI. What is her net pay? (Assume a FICA—OASDI Tax of 6.2% and FICA—Medicare Tax of 1.45%. Round all calculations to the nearest cent.)Carol Blane’s cumulative yearly earnings for the year are $29,000, counting her current payperiod salary amount of $4,500. Assume the FICA tax rate is 6.2 percent for Social Security, witha limit of $106,800, and 1.45 percent for Medicare, applied to all earnings. The FUTA tax is 0.6percent, with a limit of $7,000, and the SUTA tax is 5.4 percent, with a limit of $7,000. Theemployer's payroll tax expense entry will include a credit to: a. FICA Tax Payable for $279.00.b. FICA Tax Payable for $344.25.c. Federal Unemployment Tax Payable for $27.00.d. State Unemployment Tax Payable for $243.00.e. Federal Unemployment Tax Payable for $270.00.Rudolph Fabrizio earned gross pay of $3,600. Each period he contributes 4% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $136,400. Total Social Security Tax=
- Baker Green's weekly gross earnings for the week ending December 7 were $1,200, and her federal income tax withholding was $144. Assuming the social security rate is 6% and Medicare is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar. $ ?Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $11,000. He is single and claims 1 deduction. Before this payroll, Barrett’s cumulative earnings were $128,055. (Social Security maximum is 6.2% on $128,400 and Medicare is 1.45%.) Calculate FIT by the percentage method.Prior to the current period, Omar Phipps had earnings subject to Social Security tax of $115,800. This week, Omar has gross earnings of $2,025 and contributes $90 to a dependent-care flexible spending account. His earnings subject to Social Security tax during the current week are $_____?
