3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 $421615 rounded to $421.62 Hourly rate $421.62/40 $10.540 rounded to $10.54 OT. rate $10.54 x 1.5 $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed. Example 3-1 During 2019, Rachael Parkins, president of Mathieson Company, was pald a semimonthly salary of $8,000. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter O" OASDI 116 a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 496 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? Previous Next Check hy Works more Check My Wok usesremaining. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 $421615 rounded to $421.62 Hourly rate $421.62/40 $10.540 rounded to $10.54 OT. rate $10.54 x 1.5 $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed. Example 3-1 During 2019, Rachael Parkins, president of Mathieson Company, was pald a semimonthly salary of $8,000. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter O" OASDI 116 a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 496 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? Previous Next Check hy Works more Check My Wok usesremaining