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Compute the FICA withholdings that should be made for each employee for the December 31 pay period. QUESTION: Employee earnings records for Slaymaker Company reveal
Compute the FICA withholdings that should be made for each employee for the December 31 pay period. QUESTION: Employee earnings records for Slaymaker Company reveal the following gross earnings for four employees through the pay period of December 15. J. Seligman $93,500 L. Marshall $115,100 R. Eby 113,600 T. Olson $120,000 For the pay period ending December 31, each employees gross earnings is $4,500. The FICA tax rate is 6.2% on gross earnings of $117,000, plus an additional 1.45% on all salary and wages without limitation. Compute the FICA withholdings that should be made for each employee for the December 31 pay period. J. Seligman - ? L. Marshall - ? R. Eby - ? T. Olson
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