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For each of the following employees, calculate both the Social Security tax and the Medicare tax for the weekly pay period described: NOTE: For simplicity,
For each of the following employees, calculate both the Social Security tax and the Medicare tax for the weekly pay period described:
NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
contribution of of gross pay to a flexible spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $
Social Security tax $
Medicare tax $$
of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $
Social Security tax
Medicare tax
contributes $ to a dependent care flexible spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $
Social Security tax
Medicare tax
contributes $ to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $
Social Security tax
Medicare tax Kyle Struck's filing status is single, and he has earned gross pay of $ Each period he makes a b contribution of of gross pay; and makes a contribution of of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $
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