Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI—6.2% both on $132,900; HI—1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9% on wages in excess of $200,000 was not applicable. Karlie Hastings is a writer (employee) for the Santa Fe Gazette and has an annual salary of $49,000. This year, she also realized net self-employment earnings of $85,000 from a book she wrote. What portion of her self-employment earnings is subject to the two parts of the social security tax?

Old Town Entertainment has two employees in Year 1. Clay earns $4,500 per month, and Philip, the manager, earns $10,700 per month. Neither is paid extra for working overtime. Assume the Social Security tax rate is 6 percent on the first $110,000 of earnings and the Medicare tax rate is 1.5 percent on all earnings. The federal income tax withholding is 15 percent of gross earnings for Clay and 22 percent for Philip. Both Clay and Philip have been employed all year. Required a. Calculate the net pay for both Clay and Philip for March. b. Calculate the net pay for both Clay and Philip for December. c. Is the net pay the same in March and December for both employees? d. What amounts will Old Town report on the Year 1 W-2s for each employee? Complete this question by entering your answers in the tabs below. Req A and B a. Clay Calculate the net pay for both Clay and Philip for March. Calculate the net pay for both Clay and Philip for December. (Do not round intermediate calculations and…

Determine the income tax to withhold from the biweekly wages of the following employees (wage-bracket): Karen Overton (single), $900 wages $fill in the blank 1 Nancy Haller (married filing jointly), $1,000 wages $fill in the blank 2 Alan Glasgow (married filing jointly), $980 wages $fill in the blank 3 Joseph Kerr (single), $720 wages $fill in the blank 4 Ginni Lorenz (single), $580 wages $fill in the blank 5

(2) Use the appropriate table to determine the amount to withhold for federal income tax from each of the following biweekly wages: Patrick Patrone (single), $925 wages $fill in the blank 1 Carson Leno (married filing jointly), $1,195 wages $fill in the blank 2 Carli Lintz (single), $700 wages $fill in the blank 3 Gene Hartz (single), $5,200 wages $fill in the blank 4 Mollie Parmer (married filing jointly), $4,000 wages $fill in the blank 5 fullscreen

During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,000. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? $ 496 ✓ 496 X ✓ $ $ $ HI 116 116 116 828

Tea Tree Therapeutics is an Arizona company with a SUTA tax of 5.2% and a SUTA wage base of $7,000. The employee earnings for the past year are: Theresa, $25,340; Gregori, $7,400; Alain, $20,860; and Katlyn, $5,730. Arizona employers pay a State Unemployment Insurance Tax (SUI) of 2.0% on all wages up to the first $7,000 annually. What is the total of Tea Tree Therapeutic’ employer-share taxes for FUTA, SUTA, SUI, and FICA for the year? (Round your intermediate calculations to 2 decimal places.)  Multiple Choice $6,840.79  $6,682.39 $6,623.69 $6,463.31

Jadeveon, a self-employed attorney, uses a defined contribution Keogh plan with a contribution rate of 12% of compensation. His earned income after the deduction of one-half of self-employment tax but before the Keogh contribution is $329,000. What is the maximum amount of Jadeveon's contribution? SA

Morgan is paid $2,955.75 per week. What is the amount of federal income tax withheld from Morgan's paycheck under the following conditions? Assume that Morgan has only one job or that step 2 of Form W-4 is not checked. Also, her employer uses the Percentage Method Tables for Automated Systems. Use percentage method tables for automated systems. Required: a. Morgan is single, with no dependents. b. Morgan is married (spouse does not work) and claims two dependents who are under the age of 17. c. Morgan is single, claims no dependents, but wants $50 in additional withholding. Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. × Answer is not complete. a. Federal income tax withholdings b. Federal income tax withholdings c. Federal income tax withholdings Amount 295.58 X

The biweekly taxable wages for the employees of Rite-Shop follow. Compute the FICA taxes for each employee and the employer's FICA taxes. Round your answers to the nearest cent. FICA Taxes Employee OASDI HI Employee Name Biweekly Taxable Wages No. 711 Castro, Manny $4,000.00 $4 512 Corrales, Pat 984.00 624 Guitar, Joseph 1,018.00 325 Moore, Connie 1,203.40 422 Morrison, Harry 2,300.00 Robertson, 210 1,274.80 Catherine 111 Swarez, Joseph 1,322.00 Totals Employer's OASDI Total Taxable Wages Employer's OASDI Tax Employer's HI Tax Total Taxable Wages Employer's HI Tax

For each circumstances, calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500. A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively. SUTA tax = $ What is the SUTA tax?