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7.) For this problem, assume that there is a FICA (Social Security) cap of $110,000 earned so far this year, that the FICA rate is
7.) For this problem, assume that there is a FICA (Social Security) cap of $110,000 earned so far this year, that the FICA rate is 6.2%, that the Medicare rate is 1.45%, that the State Income tax is 4%, and that the state disability (SDI) rate is 1% with a $31,800 cap for the year. A.) John, a dock-worker, is paid $1,452 per week. He is married and claims 3 allowances. For the week of March 1, find the: a.) Social Security tax owed (FICA): b.) Medicare tax owed: c.) State disability insurance owed: d.) Federal Income tax Withheld: e.) State Income tax Withheld: f.) 401-K Annuity deduction of 2%: g.) Net take-home pay
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