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I'm getting stuck on the SS part. I can't find the correct number(s), and I'm not sure what I'm doing wrong. Assumed tax rates are
I'm getting stuck on the SS part. I can't find the correct number(s), and I'm not sure what I'm doing wrong.
Assumed tax rates are as follows: a. FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent ( 0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent ( 0.0145) on all earnings for each employee. b. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. c. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. V Check My WorkStep by Step Solution
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