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Example 3-1 During 2016, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,200. Compute the amount of FICA taxes that should

Example 3-1

During 2016, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,200. Compute the amount of FICA taxes that should be withheld from her. Round your answers to the nearest cent. If an amount is zero, enter "0".

OASDI HI
a. 9th paycheck $ $
b. 17th paycheck $ $
c. 24th paycheck $ $
d. If Rachael Parkins year-to-date earnings as of her 24th paycheck are $168,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld?

$

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