Question
The following 2 employees are PAID monthly and this is the last payday of the year (Dec). Pay for each employee and their amount of
The following 2 employees are PAID monthly and this is the last payday of the year (Dec).
Pay for each employee and their amount of deductions each pay has changed over the year, thus
I will provide their total prior pay.
1. Katie S . Dec. gross pay $16,200
Prior 11 months wages - Gross: $178,200
Federal taxable: $154,000
Social Security taxable: $160,200
Medicare taxable: $162,800
Katie's December deductions from regular pay:
a. Child Support $1,300
b. 401K $800
c. Red Cross Donation $50
d. Ivy Tech Foundation donation $130
e. Medical Prem. $900
f. HSA $500
2. John D.. Dec. regular pay $15,400
Prior 11 months wages - Gross: $169,400
Federal taxable: $144,100
Social Security taxable: $151,800
Medicare taxable: $151,800
John's December deductions from regular pay:
a. 401K $700
b. Back Federal taxes garnishment $1,300
c. Medical Ins. Prem. $850
d. Flexible Spending for dependents $400
e. Medical Flexible Spending $350
- What is Katie's December Federal taxable income?
- What is Katie's December Social Security taxable income?
- What is Katie's December Medicare taxable income?
- What is John's December Federal taxable income?
- What is John's December Social Security taxable income?
- What is John's December Medicare taxable income?
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