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Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for
Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare): (Leave no cells blank - be certain to enter "0" wherever required.)
Employee | Cumulative earnings before this pay period | Pay amount this period | Social Security | Medicare |
Cleaves | $400,000 | $6,000 | $ | $ |
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