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Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly salary of $11,600. He is single and claims 1 deduction.
Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly salary of $11,600. He is single and claims 1 deduction. Before this payroll, Barretts cumulative earnings were $112,200. (Social Security maximum is 6.2% on $118,500 and Medicare is 1.45%). Calculate FIT by the percentage method. (Use Table 9.1 and Table 9.2) (Round your answer to 2 decimal places.)
FIT | $ |
Social Security taxes | $ |
Medicare taxes | $ |
One Withholding Allowance Payroll Period Weekly Biweekly Semimonthly Monthly $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 Semiannually Annually Daily or miscellaneous (each day of the payroll period) 15.40
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