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Check my wo Your boss approaches you in mid-December and requests that you pay certain employees their gross pay amount as if there were
Check my wo Your boss approaches you in mid-December and requests that you pay certain employees their gross pay amount as if there were no deductions as their year-end bonuses. None of the employees have reached the Social Security wage base for the year. Required: What is the gross-up amount for each of the following employees? (The tax rate on bonuses is 22 percent. The Social Securi (6.2%) and Medicare taxes (1.45%) must be added to this rate.) (Round your intermediate calculations and final answers to decimal places.) Employee Regular Gross Pay per Period Yves St. John $ 2,025 $ Kim Johnson $ 3,040 Michael Hale $ 2,944 Grossed-up Amount 3,449.58
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