Question

In: Accounting

During 2018, Matti Conner, president of Maggert Company, was paid a semimonthly salary of $5,800. Compute...

During 2018, Matti Conner, president of Maggert Company, was paid a semimonthly salary of $5,800. Compute the amount of FICA taxes that should be withheld from her.

Note that Matti files single on her tax return. If an amount is zero, enter "0".

OASDI HI
a. 9th paycheck $ $
b. 22nd paycheck $ $
c. 24th paycheck $ $
d. If Matti Conner's year-to-date earnings as of her 24th paycheck are $139,200 and her year-end bonus is $100,000. How much is the additional 0.9% HI tax withheld? $

Solutions

Expert Solution

During 2018, Matti Conner, president of Maggert Company, was paid a semimonthly salary of $5,800. Compute the amount of FICA taxes that should be withheld from her. Note that Matti files single on her tax return. If an amount is zero,

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

During 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute...
During 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $ $ b. 17th paycheck $ $ c. 24th paycheck $ $ d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $180,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? $
uring 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,700. Compute...
uring 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,700. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $ $ b. 17th paycheck $ $ c. 24th paycheck $ $ d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $184,800, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? $
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute...
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $ $ b. 18th paycheck $ $ c. 24th paycheck $ $ d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck      are $180,000, and her year-end bonus is $100,000, how much is      the additional 0.9% HI tax withheld?
During 20--, Matti Conner, president of Acme Inc. was paid a semimonthly salary of $6,100. Computer the amount of FICA taxes that should be withheld from her.
Rate   Wage BaseMaximum TaxEmployee and Employer OASDI: 6.20% $132,900   $8,239.80Employee* and Employer HI: 1.45%. No limit   No maximumDuring 20--, Matti Conner, president of Acme Inc. was paid a semimonthly salary of $6,100. Computer the amount of FICA taxes that should be withheld from her.                                     OASDI         HIA. 9th paycheckB. 22nd paycheckC. 24th paycheckD. If Maria's year to date earnings as of her 24th paycheck are $146,400 and her year-end bonus is $100,00, how much is the additional HI tax withheld?
During 2020, Juan Gonzalez, president of Acme Inc. was paid a semimonthly salary of $6,100. Computer...
During 2020, Juan Gonzalez, president of Acme Inc. was paid a semimonthly salary of $6,100. Computer the amount of FICA taxes that should be withheld from him. A. 9th paycheck B. 22nd paycheck C. 24th paycheck D. If Juan's year to date earnings as of his 24th paycheck are $146,400 and his year-end bonus is $100,00, how much is the additional HI tax withheld?
During 2018, Waggoner Company performed services for which customers paid or promised to pay $587,000. Of...
During 2018, Waggoner Company performed services for which customers paid or promised to pay $587,000. Of this amount, $552,000 had been collected by the end of 2018. Waggoner paid $340,000 in cash for employee wages and owed the employees $15,000 at the end of the year for work that had been done but had not paid for. Waggoner paid interest expenses of $3,000 and $195,000 for other service expenses. The income tax rate was 35%, and income taxes had not...
George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,744....
George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,744. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: a. What is the maximum that he can contribute into this retirement fund? $ b. What would be the company's contribution? $ c. What would be his weekly take-home pay if he contributes the maximum allowed retirement contribution (married, 2 allowances,...
George Clausen (age 48) is employed by Kline Company and is paid an annual salary of...
George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42,640. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: Round your answer to the nearest cent. a. What is the maximum that he can contribute into this retirement fund? $ b. What would be the company's contribution? $ Note: For items c. & d. below, round interim amounts to...
Samantha Montgomery (age 42) is employed by Canon Company and is paid a salary of $62,430....
Samantha Montgomery (age 42) is employed by Canon Company and is paid a salary of $62,430. She has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Montgomery: 3.a. What is the maximum that she can contribute into this retirement fund? $____________ 3.b. What would be the company's contribution? $_____________ 3.c. What would be her weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and...
George Clausen (age 48) is employed by Kline Company and is paid an annual salary of...
George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42,640. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: Round your answer to the nearest cent. (For wages paid through December 2019 wage-bracket) a. What is the maximum that he can contribute into this retirement fund? $13,000 (correct) b. What would be the company's contribution? $1279.20 (correct) Note: For...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT