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A:An employee works 47 hours (47 - 40 were overtime hours) during a workweek in December of 2016. The employee earns $39/hour, with his employer
A:An employee works 47 hours (47 - 40 were overtime hours) during a workweek in December of 2016. The employee earns $39/hour, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $116,650 during the year. He has requested that his employer withhold 6% of gross pay, which is to be contributed to a 401(k) plan.
Taxable income for federal income tax withholding = $
Taxable income for social security tax = $
Taxable income for medicare tax = $
Taxable income for federal income tax withholding = $
Taxable income for social security tax = $
Taxable income for medicare tax = $
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