The annual salaries paid each of the officers of Maxtun, Inc. follow. The officers are paid semimontly on the 15th and last day of the month. Compute the FICA taxes to be withheld from each officers on October 13, and December 29.
Oct 13
Tate, jack, president Annual salary $120,000
What's the OASDI Taxable earnings
The OASDI tax
The HI taxzble earnings
The HI tax
OASDI tax is 6.2%
HI tax is 1.45%
The same for Dec 29
Tate, Jack, President Annual Salary $120,000
On the 941 Form How do I find the current quarter's fractions of cent
How to find the percentage of method
Single 2 withholding allowances payroll period is weekly Gross wage 675.00
On the percentage method page
The amount of income tax withheld is 76.40 plus 25%
