Assume a tax rate of 62% on $128,400 for Social Security and 1,45% for Medicare....
50.1K
Verified Solution
Link Copied!
Question
Accounting
Assume a tax rate of 62% on $128,400 for Social Security and 1,45% for Medicare. No one will reach the maximum for FICA Complete the following payroll register (Use the percentage method to calculate FIT for this weekly period.) (Use Table 91 and Table 9.2). (DO not round Intermediate calculations and round your final answers to the nearest cent) Answer is complete but not entirely correct. FICA Employee Allowances claimed Gross pay FIT S.S Med Marital status M Netpay Pat Brown 2,600 TO 00 3 101.203 37.70 2.230.00 TABLE 9.1 Percentage method income taxe withholding allowances Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of the payroll period) One Withholding Allowance $ 79.80 159.60 172.90 345.80 1,037.50 2,075,00 4,150.00 16.00
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.