Ben Stein, single, claiming one exemption, has cumulative earnings before this biweekly pay period of $116,200. If
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Ben Stein, single, claiming one exemption, has cumulative earnings before this biweekly pay period of $116,200. If he is paid $1,980 this period, what will his deductions be for FIT and FICA (OASDI and Medicare)? The FICA tax rate for Social Security is 6.2% on $117,000, and Medicare is 1.45% on all earnings.
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
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