Challenge Problem 13-C The company believes it will be able to hire a qualified individual for a $95,000.00 annual salary. The company pays $150.00 of each employee's $400.00 monthly insurance premium. Determine the total annual salary and payroll tax expense for the employee, assuming the company does not have an IRS-approved health care plan. Salary $95,000.00 Insurance 150.00 Taxable Amount Tax Rate Social Security x $95,000.00 395,000.00 Medicare Federal unemployment State unemployment IS Total expense for employee What would be the total annual salary and payroll tax expense for the employee, assuming the company receives IRS approval for its health care plan? Remember, contributions to an approved health care plan reduce the amount of wages subject to social security, Medicare, and federal income taxes Salary Insurance Tax Taxable Amount Social Security Medicare Federn unemployment Stare unemployment Total expense for employee Challenge Problem 13-C The company believes it will be able to hire a qualified individual for a $95,000.00 annual salary. The company pays $150.00 of each employee's $400.00 monthly insurance premium. Determine the total annual salary and payroll tax expense for the employee, assuming the company does not have an IRS-approved health care plan. Salary $95,000.00 Insurance 150.00 Taxable Amount Tax Rate Social Security x $95,000.00 395,000.00 Medicare Federal unemployment State unemployment IS Total expense for employee What would be the total annual salary and payroll tax expense for the employee, assuming the company receives IRS approval for its health care plan? Remember, contributions to an approved health care plan reduce the amount of wages subject to social security, Medicare, and federal income taxes Salary Insurance Tax Taxable Amount Social Security Medicare Federn unemployment Stare unemployment Total expense for employee