Ask Experts Questions for FREE Help !
Ask
    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
     
    #1

    Nov 24, 2006, 08:48 PM
    Taxes
    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Nov 25, 2006, 01:29 PM
    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.
    Too Short's Avatar
    Too Short Posts: 85, Reputation: -1
    Junior Member
     
    #3

    Nov 25, 2006, 09:48 PM
    Thank you very much
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #4

    Nov 26, 2006, 09:41 AM
    Glad to help!

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Taxes [ 1 Answers ]

I have taken on a second job as in independent contractor, and are required to pay my own taxes from my weekly pay which is $350.00. How do I determine the amount to be deducted

Taxes [ 3 Answers ]

I Am Paying The Mortgage On My Deceased Parents House[daughter And Grandchildren Living There I Have Not Probated Will Still In Parents Name Can I Claim Mortgage On My Income Tax?

Filing for 2004 taxes and 2005 taxes [ 1 Answers ]

Hi I just received my W2 from my employer and there were 2 W2's. One W2 was for the wages of Dec 2004 (since the employer pays 1 month delayed salary) and the other one was for Jan - Nov 2005. I want to know if I can refile my 2004 taxes since I just got my Dec 2004's W2. If I add that...

J2 taxes [ 1 Answers ]

Hello, I have seen a lot of questions on this forum concerning taxes for J1. Here is my case: I arrived in January 2005 with my husband. He has a J1 and I am J2 dependent. I got my EAD in April 2005 and found a job a few days after. I started to pay all taxes : social security, medicare,...


View more questions Search