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An employee earns $5,850 per month working for an employer The FICA tax rate for Social Security is 6.2% of the first $118,500 earned each
An employee earns $5,850 per month working for an employer The FICA tax rate for Social Security is 6.2% of the first $118,500 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay The employee nas S 96 nederal income taxes withheld. The employee has voluntary deductions for health insurance of $164 and contributes $82 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your Intermedlate calculations to two decimal places.) Multiple Cholce $5.045.30 $4.913.67 $4,644.57 $496047 $4,59777
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