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Suppose Jim worked 76 hours during this payroll period and is paid $11.00 per hour. Assume FICA is 6.2%, Medicare is 1.45% and withholding tax
Suppose Jim worked 76 hours during this payroll period and is paid $11.00 per hour. Assume FICA is 6.2%, Medicare is 1.45% and withholding tax is 10%.
1.Calculate Jim's employer's payroll tax expense for the period. (ITS NOT 114.11)
2.Calculate Jim's employer's total payroll tax liability for the period. (ITS NOT 261.67)
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