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Please answer all! this is my last question and I need them asap! Will give likes! Paloma Company has four employees. FICA Social Security taxes
Please answer all! this is my last question and I need them asap! Will give likes!
Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4\%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees. In addition to gross pay, the company must pay one-half of the $96 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. 1) Employees' FICA Withholdings for Social Security 2) Employees' FICA Withholdings for Medicare 3) Employer's FICA Taxes for Social Security 4) Employer's FICA Taxes for Medicare 5) Employer's FUTA Taxes 6) Employer's SUTA Taxes \begin{tabular}{|l|l|l|l|} \hline Employee & EarningsSubjecttoTax & Tax Rate & Tax Amount \\ \hline Tax Rate & & & \\ \hline Dali & & & \\ \hline Trey & & & \\ \hline Kiesha & & & \\ \hline Chee & & Total & $ \\ \hline & & & \\ \hline \end{tabular} 8) Employer's Total Payroll-Related Expense for Each EmployeeStep by Step Solution
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