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An employee earns $6,450 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $
Posted: Sun Jun 05, 2022 7:06 pm
by answerhappygod
- An Employee Earns 6 450 Per Month Working For An Employer The Fica Tax Rate For Social Security Is 6 2 Of The First 1 (25.13 KiB) Viewed 32 times
- An Employee Earns 6 450 Per Month Working For An Employer The Fica Tax Rate For Social Security Is 6 2 Of The First 2 (14.08 KiB) Viewed 32 times
An employee earns $6,450 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5,4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $220 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $188 and contributes $94 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.) D Multiple Choice $5,106.27 $5,402.97 $5.05467 $5.45457
Multiple Choice $5,106.27 $5,402.97 $5,054.67 $5.454.57 $5.548.10