In all of the following problems, use these tax rates and taxable wage: OASDI—4.2% on the...

In all of the following problems, use these tax rates and taxable wage: OASDI—4.2% on the first $110,100; HI—1.45% on all taxable wages.

Refer to Instruction 3-1. Dee is paid $1,345 on November 8, 20--. Dee had cumulative gross earnings, including overtime pay, of $108,800 prior to this pay.

a)	The amount of OASDI taxes to withhold from Dee's pay is __________.
b)	The amount of HI taxes to withhold from Dee's pay is __________.

Solutions

Expert Solution

Total gross pay = 1345 + 108800 = $ 110145

Excess :- 110145 - 110100 = $ 45

The amount of OASDI taxes to withhold from Dee's pay is :- ( 1345 - 45 ) * 4.2 % = $ 54.60

The amount of HI taxes to withhold from Dee's pay is :- $ 1345 * 1.45 % = $ 19.5025

ekkarill92 answered 2 years ago

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