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all the information is here Required information [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes
all the information is here
Required information [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128.400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7000 paid to its employee Gross Pay through August 31 $ 5,500 2,500 123, 100 Gross Pay for September $2,300 2,600 9,000 b. C. Tax Piper Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare 9,000.00 % 6.20% $ 558.00 1.45% 130.50 FUTA 9,000.00 116,100 116, 100 x 0.60% SUTA 696.60 6,269.40 5.40% Step by Step Solution
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