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The employees of Black Cat Designs are paid on a semimonthly basis. Compute the FICA taxes for the employees for the November 30, 2016, payroll.
"The employees of Black Cat Designs are paid on a semimonthly basis. Compute the FICA taxes for the employees for the November 30, 2016, payroll. All employees have been employed for the entire calendar year. (Round "Social Security Tax" and "Medicare Tax" to 2 decimal places.)"
How do you get the answers for social security pay and Medicare tax pay?
Ex.
Employee: Grace B.
Semimontly salary= 4,250
YTD Pay for 11-15-2016= 89,250
Social Security Tax for 11-30-2016 Pay= ______?
Medical Tax for 11-30-2016 Pay= _______?
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