Question
An employee earned $128,500 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up
An employee earned $128,500 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $118,500 maximum per year and the rate for FICA Medicare 1.45% of all earnings. The employers total FICA payroll tax for this employee is:
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Accounting Principles Volume 2 Chapters 13 To 26
Authors: Jerry J. Weygandt
11th Edition
1118342070, 978-1118342077
