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    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
    		  
    #1

    Nov 23, 2006, 10:42 PM
    Accounting
    How do I find the OASDI taxable earnings, OASDI tax, HI taxable earnings, and The HI tax if I was paid semimonthly on the 15 and the last day of the month. From the annual salary.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Nov 24, 2006, 04:36 PM
    Divide the annual salary by 24.

    OASDI tax is Social Security (6.2%) and Medicare (1.45%). Both are flat taxes. The Social Security tax stops after earning hit $90K for 2006 and $97K for 2007.

    As for Hawaii, you will need to access theur tax tables to determine the tax withholding. They probably be found on the Hawaii state government tax wesbite.
    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
    		  
    #3

    Nov 25, 2006, 09:50 PM
    Thank You
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Nov 26, 2006, 09:41 AM
    Glad to help!
    Allison Cook's Avatar
    Allison Cook Posts: 1, Reputation: 1
    New Member
    		  
    #5

    Mar 9, 2008, 02:04 PM
    I have a problem that wants you to find the OASDI taxable earnings of the salary provided for each employee that works either weekly or monthly.
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