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Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly salary of $12,000. He is single and claims 1 deduction.
Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly salary of $12,000. He is single and claims 1 deduction. Before this payroll, Barretts cumulative earnings were $110,500. (Social Security maximum is 6.2% on $118,500 and Medicare is 1.45%). Calculate FIT by the percentage method. (Do not round intermediate calculations. Round your answer to the nearest cent.)
FIT | $ |
Social Security taxes | $ |
Medicare taxes | $ |
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