Question
Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for Social Security Federal Income Tax withholding (FIT) may be incorrect.
Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for Social Security Federal Income Tax withholding (FIT) may be incorrect. Larren is paid a salary of $4,800 weekly. She is married, claims 4 deductions,and prior to this payroll check, has total earnings of $128,290. What are the correct deductions for Social Security, Medicare, and FIT ? Assume a rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. (Use Table 91 and Table 9:2). (Round the nearest cent.)
social security taxes? Medicare taxes? FIT?
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