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Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a total of $9, 088. FICA
Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a total of $9, 088. FICA tax for Social Security is 6.2% and the FICA tax for Medicare is 1.45%. The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4% Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of Federal Income Tax withheld from his earnings was $1, 507.97. What is the amount of the employer's payroll taxes expenses for this employee? %378.00 $131.78 $1, 129.24 $56.00 $563.46
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