Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly...
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Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly salary of $12,900. He is single and claims 1 deduction. Before this payroll, Barretts cumulative earnings were $111,400. (Social Security maximum is 6.2% on $118,500 and Medicare is 1.45%). Calculate FIT by the percentage method. (Round your answer to 2 decimal places.)
| FIT | $ |
| Social Security taxes | $ |
| Medicare taxes | $ |
This is Business Math 149.
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