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Calculate the tax amount for FICA - Social security

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Reference no: EM133025513

Question - TKSC Company has one employee, Reba Shas. FICA Social Security taxes are 6.2% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For TKSC, its FUTA taxes are .6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee.

First, calculate the tax amount for FICA - Social security, FICA - Medicare, FUTA, and SUTA. Use the provided form on the following worksheet. Reminder: Please use the drop-down list (right of the cell) to enter the account name on the worksheet.

Reference no: EM133025513

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