Question
An employee works 50 hours (50 - 40 were overtime hours) during a workweek in December of 2019. He earns $41/hour, with his employer paying
An employee works 50 hours (50 - 40 were overtime hours) during a workweek in December of 2019. He earns $41/hour, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $131,050 during the year. He has requested that his employer withhold 4.5% 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 = $
Could you please show the work being shown because I don't understand how to solve this at all.
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