User Account

All Pages

Compute the employer total fica payroll tax for employee

Assignment Help Accounting Basics
Reference no: EM132181023

Question - An employee earned $43,100 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $118,500 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is:

Zero, since the FICA tax is a deduction from an employee's pay, and not an employer tax.

$2,672.20.

$624.95.

$3,297.15.

$6,594.30.

Reference no: EM132181023

Questions Cloud

Develop three course objectives regarding influencing skills : Develop three course objectives regarding influencing skills-one focused on knowledge or comprehension, one tapping into application.
Identify free online survey software and sample charts : Identify all personnel, including the staff, the board of directors, and volunteers. Descriptions of personnel, including their roles and responsibilities.
Maximum possible profit from donated televisions-stereos : Determine how to best use the electrician’s and technician’s time to realize the maximum possible pro fit from the donated televisions and stereos.
Discuss the differences between efficiency and effectiveness : Discuss the differences between efficiency and effectiveness. When would it make sense to use a flexible budget as compared to a forecast budget?
Compute the employer total fica payroll tax for employee : An employee earned $43,100 working for an employer in the current year. The employer's total FICA payroll tax for this employee is
Business information including organisation chart : ISY00243 - Systems Analysis and Design - You will be required to include other sections and models in the full Systems Requirements
Describe the three main phases of the costing process : Describe how cost information relates to the three key activities of management: planning, budgeting, and control.
What are the benefits of peer assessment : What are the benefits of peer assessment? What are the challenges of giving and receiving peer feedback in peer assessment?
Your goals for coming quarters analyze market research data : Based on the current position of your new division in the simulation and your goals for coming quarters analyze the market research data, competitive data,

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd