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Reida Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,500.
Reida Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,500. The FICA tax for social security is 6.2% of the first $137,700 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,450.00. What is the total amount of taxes withheld from the Portia's earnings? (Round your intermediate calculations to two decimal places.) A. $1,450.00 B. $2,100.25 C. $2,610.25 D. $2,520.25 E. $ 800.00
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