If you had a semimonthly salary of 6800 how would you compute the Fica taxes
That would be withheld from your
9th pay check
14th pay check
24th pay check
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If you had a semimonthly salary of 6800 how would you compute the Fica taxes
That would be withheld from your
9th pay check
14th pay check
24th pay check
The Medicare tax is same for all three checks: Multiply the gross salary by 1.45%, which is $98.60.
For the 9th check, for Social Security, multiply the gross salary by 6.2%, which is $421.60.
On the 14th check, the employee exceeds the $90K limit by $5,200, so, for the 14th check, you multiply $1,600 by 6.2%, which is $99.20.
On the 24th check, only Medicare is withheld.
Thank you very much
Glad to help!
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