Larty Walsh is general maneger of Sloneybrook Salons. During 2024, Walsh woeked for the compacy al year at a $11,800 monthly salary. He also earned a yeut-end bonus equal to 20% of his Stoneytrook incumed payroll tax eupense on Walsh for FICA tax . The company also paid stane unemployment tax and federal unemplayment tax anrual salary. Walsh's federal income tax withheld during 2004 was $1.416 per month, plus $6,230 on his borus chnck state income tax w thheld came to $100 per month, plus $90 on the bonus. FICA tax was whecheld on the annual eamings. Wash authorized the following paryoll deductions: (Cick the icon to viow paptol tax rade intormation). Charity Fund contrbution of 1% of total earrings and lfe insurance of $25 per month. Read the feguicements More info Begin by computing Waleh's gross pay for the year, (Round al amounts to the nearest dolar.) For al poyeoll calculations, use the following tax rates and round amcun's to the nearest cent: Employen: OASOI: 62% on frst $132,500 earned; Medicare: 1.45% up to $200,000,2.35% on eamings above $200,000. Eimployer OASOl: 6.2% on first $132.900 eamed: Medicare: 1.45\%; FUTA: Now computo Walst's payroll doductions and net pay for the yeac (Round all amounts to the nearest dollar.) 0.6% on first $7,000 earned; SUTA: 5.44 on frat $7,000 eamed