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Calculate FIT by the percentage method

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Question - Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $12,000. He is single and claims 1 deduction. Before this payroll, Barrett's cumulative earnings were $110,500. (Social Security maximum is 6.2% on $118500 and Medicare is 1.45%.) Calculate FIT by the percentage method.

Reference no: EM132762101

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