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TKSC Company has one employee, Reba Shas. FICA Social security taxes are 6.2% of the first $117,000 paid to it's employee, and FICA Medicare taxes
TKSC Company has one employee, Reba Shas. FICA Social security taxes are 6.2% of the first $117,000 paid to it's employee, and FICA Medicare taxes are 1.45% of gross pay. For TKSC, it's FUTA taxes are .6% and SUTA taxes are 2.9% of the first $7,000 paid to it's employee. gross pay through August: $6,880. gross pay for September: $860. calculate tax amount and journalize entries
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