Mai earned a gross weekly income of $464.00 the first week of January. Using a 6.2% FICA Social Security rate and a 1.45% FICA Medicare rate, calculate Mai's FICA tax for this week.
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Mai earned a gross weekly income of $464.00 the first week of January. Using a 6.2% FICA Social Security rate and a 1.45% FICA Medicare rate, calculate Mai's FICA tax for this week.
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- Precision Labs has two employees. The following information was taken from its individual earnings records for the month of September. Determine the missing amounts assuming that the Social Security tax is 6.2 percent, the Medicare tax is 1.45 percent, and the state income tax is 20 percent of the federal income tax. Assume that the employees are married and have one withholding allowance. All earnings are subject to Social Security and Medicare taxes. Round amounts to the nearest penny.Baker Green's weekly gross earnings for the week ending December 7 were $2,000, and her federal income tax withholding was $240. Assuming the social security rate is 6% and Medicare is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar.Baker Green's weekly gross earnings for the week ending December 7 were $1,800, and her federal income tax withholding was $216. Prior to this week Green had earned $98,000 for the year. Assuming the social security rate is 6.0% and Medicare is 1.5%, what is Green's net pay? Round your answer to the nearest whole dollar.$___________
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