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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? $

Solutions

Expert Solution

Rate

Ceiling Limit

OASDI

6.20%

118500

HI

1.45%

No limit

a

Amount paid till 9Th paycheck = 7500*9=

67,500

OASDI

465

(7500*6.2%)

HI

108.75

(7500*1.45%)

b

Amount paid till 17Th paycheck = 7500*17=

127500

OASDI

7347

(118500*6.2%)

HI

1718.25

(118500*1.45%)

c

Amount paid till 24Th paycheck = 7500*24=

180000

OASDI

7347

(118500*6.2%)

HI

2610

(180000*1.45%)

ekkarill92 answered 2 years ago
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