Question
Amazon.com, Inc. has the following payroll information for its employees: Gross salaries: $500,000 Federal income tax withheld: $75,000 Social Security tax withheld: $30,000 Medicare tax
Amazon.com, Inc. has the following payroll information for its employees:
- Gross salaries: $500,000
- Federal income tax withheld: $75,000
- Social Security tax withheld: $30,000
- Medicare tax withheld: $7,250
- State income tax withheld: $25,000
- Health insurance premiums deducted: $12,000
Calculate the net pay for Amazon employees and the total payroll tax expense for Amazon.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
