Question
payroll taxes for acc. period?
Assume that social security taxes are payable at a 6% rate on the first $100,000 of earnings and medicare taxes are payable at a 1.5% rate with no maximum earnings, and that federal and state unemployment compensation taxes total 4.6% on the first $7,000 of earnings. If an employee, George Jones, earns $2,500 for the current week and Jones' year-to-date earnings before this week were $6,800, what is the total payroll taxes related to the current week? a. $187.50 b. $196.70 c. $344.50 d. none of the above
1 month ago - 3 answers
Best Answer
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seems to me you asked this before since I remember your original question also contained the wrong percentages are you not able to calculate the correct percentages and subtract from the gross?
by tro- 1 month ago
Come on...break it down...take his year to date earnings of 6800...calculate the social sec of 6% and the medicare of 1.5%...then the 4-6% of unemployment insurance...OK...then take the 2500...6%ss...1.5% medicare...then take $200 and calculate the 4.6% of unemployment ins (first 7000)...add them together...the answer...you can do it
by prescientone- 1 month ago