In: Accounting
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? |
Solution:-
OASDI | HI | |
a. 9th paycheck | $ 465.00 | $ 108.75 |
b. 18th paycheck | $ 446.40 | $ 108.75 |
c. 24th paycheck | 0 | $ 108.75 |
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? | $ 720.00 |