Question
In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly on the 15th and the last
In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officers pay on (a) November 15 and (b) December 31.
a. | November 15 | ||||
Name and Title | Annual Salary | OASDI Taxable Earnings | OASDI Tax | HI Taxable Earnings | HI Tax |
Perez, Paul, President | $168,000 | _________ | _________ | _________ | _________ |
Donald, Donna, VP Finance | 148,800 | _________ | _________ | _________ | _________ |
Funke, Jack, VP Sales | 76,800 | _________ | _________ | _________ | _________ |
Weis, Al, VP Mfg. | 92,400 | _________ | _________ | _________ | _________ |
Lang, Hope, VP Personnel | 78,000 | _________ | _________ | _________ | _________ |
Lee, Amy, VP Secretary | 52,800 | _________ | _________ | _________ | _________ |
b. | December 31 | ||||
Name and Title | Annual Salary | OASDI Taxable Earnings | OASDI Tax | HI Taxable Earnings | HI Tax |
Perez, Paul, President | $168,000 | _________ | _________ | _________ | _________ |
Donald, Donna, VP Finance | 148,800 | _________ | _________ | _________ | _________ |
Funke, Jack, VP Sales | 76,800 | _________ | _________ | _________ | _________ |
Weis, Al, VP Mfg. | 92,400 | _________ | _________ | _________ | _________ |
Lang, Hope, VP Personnel | 78,000 | _________ | _________ | _________ | _________ |
Lee, Amy, VP Secretary | 52,800 | _________ | _________ | _________ | _________ |
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