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U S W are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week
U S W are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees Employees' total OASDI.... Employees' total HI.... Employer's total OASDI Employer's total Hl.... 3-8BLO 3 See Example 3-5 on page 3-13 ME HOW George Parker was paid a salary of $74,700 during 20-- by Umberger Company. In addition, during the year, Parker started his own business as a public accountant and reported a net business income of $60,000 on his income tax return for 20--. Compute the following: a. The amount of FICA taxes that was withheld from his earnings during 20-- by Umberger Company. b. Parker's self-employment taxes on the income derived from the public accounting business for 20- OASDI HI OASDI HI 3-55
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