Ch 9 Payroll Register-EE Social Security Limits 1 SOCIAL SECURITY TAX CALCULATIONS: 1. Compare soc sec max to YTD payroll for each employee 2. Soc Sec max versus YTD payroll = wage bal to tax 3. Wage bal to tax versus Curr week gross pay Table to calculate Social Security Taxes 4. The lower amount is taxed for social security Soc Sec max YTD Wage bal Curr Week Employee wages YTD Payroll to tax Gross Pay Dahlia - 5,0 106,800.00 106,000.00 1,240.00 Trey-M1 106,800.00 31,700.00 1,000.00 Klesha - 5,2 106,800.00 6,850.00 550.00 Chee - M,0 106,800.00 1,250.00 500.00 Totals Lower amount Tutto PR 6.20% Soc se FICA 6.20% Soc Sec PAYROLL REGISTER (Weekly): March 10 Income Tax 1.45% 5% x FWT $17 per emp Medicare FWT SWT Medical Voluntary Deductions 5% Dahlia $25 Trey.Ched Retirement United Way Net Pa Employee Dahlia - So Trey - M,1 Kresha - 5,2 Chee - M, Totals Current Week Gross Pay 1,240.00 1,000.00 550.00 500.00 PAYROLL JOURNAL ENTRIES: JE 2 EE JE 1 EE Ch 9 Payroll Register-EE Social Security Limits 1 SOCIAL SECURITY TAX CALCULATIONS: 1. Compare soc sec max to YTD payroll for each employee 2. Soc Sec max versus YTD payroll = wage bal to tax 3. Wage bal to tax versus Curr week gross pay Table to calculate Social Security Taxes 4. The lower amount is taxed for social security Soc Sec max YTD Wage bal Curr Week Employee wages YTD Payroll to tax Gross Pay Dahlia - 5,0 106,800.00 106,000.00 1,240.00 Trey-M1 106,800.00 31,700.00 1,000.00 Klesha - 5,2 106,800.00 6,850.00 550.00 Chee - M,0 106,800.00 1,250.00 500.00 Totals Lower amount Tutto PR 6.20% Soc se FICA 6.20% Soc Sec PAYROLL REGISTER (Weekly): March 10 Income Tax 1.45% 5% x FWT $17 per emp Medicare FWT SWT Medical Voluntary Deductions 5% Dahlia $25 Trey.Ched Retirement United Way Net Pa Employee Dahlia - So Trey - M,1 Kresha - 5,2 Chee - M, Totals Current Week Gross Pay 1,240.00 1,000.00 550.00 500.00 PAYROLL JOURNAL ENTRIES: JE 2 EE JE 1 EE