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Calculate fit by percentage method

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Question - Calculate Social Security taxes, Medicare taxes, and FIT for Joy Royce. Joy's company pays her a monthly salary of $9,500. She is single and claims 1 deduction. Before this payroll, Joy's cumulative earnings were $115,000. (Social Security maximum is 6.2% on 188,500, and Medicare is 1.45%) Calculate FIT by percentage method.

Reference no: EM133065743

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