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Calculate social security taxes

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Problem 1: Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $12,700. He is single and claims 1 deduction. Before this payroll, Barrett's cumulative earnings were $128,035. (Social Security maximum is 6.2% on $128,400 and Medicare is 1.45%.) Calculate FIT by the percentage method.

Reference no: EM132832715

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