Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed. Points: 2 19) Drew Laughlin,

image text in transcribed
employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed. Points: 2 19) Drew Laughlin, attorney, earned $56,637.23 #20: Find the federal withholding tax for the employee. Use the wage bracket method. Married Persons Weekly Payroll Period And the number of withholding allowances claimed If Wages Are is 0 At least 1 But less than 2 3 4 5 6 7 The amount of income tax to be withheld is- 500 510 34 26 18 11 3 0 0 0 510 520 35 27 19 12 4 0 0 0 520 530 36 28 20 13 5 0 0 530 540 38 29 21 14 6 0 0 0 540 550 39 30 22 15 0 0 550 560 41 31 23 16 8 0 0 0 560 570 42 32 24 17 1 0 0 570 580 44 33 25 18 10 2 0 0 580 590 45 34 26 19 11 3 0 590 00 47 35 27 20 12 4 600 610 18 37 28 21 13 0 610 520 50 38 29 22 14 6 620 530 51 40 30 23 15 7 0 0 530 540 53 41 31 24 16 8 0 640 650 54 43 32 25 17 1 20) Points: 2 Employee Married? Allowances Earnings Carmody, D. yes 5 $633.79 weekly

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction to the Mathematics of financial Derivatives

Authors: Salih N. Neftci

2nd Edition

978-0125153928, 9780080478647, 125153929, 978-0123846822

More Books

Students also viewed these Mathematics questions