An employee earned $4,600 in february working for an employer. cumulative earnings of the previous pay periods are $4,800. the fica tax rate for social security is 6.2% of the first $118,500 of earnings each calendar year and the fica tax rate for medicare is 1.45% of all earnings. the current futa tax rate is 0.6%, and the suta tax rate is 5.4%. both unemployment taxes are applied to the first $7,000 of an employee's pay. what is the amount the employer should record as payroll taxes expense for the month of february?
+3
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “An employee earned $4,600 in february working for an employer. cumulative earnings of the previous pay periods are $4,800. the fica tax ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Home » Business » An employee earned $4,600 in february working for an employer. cumulative earnings of the previous pay periods are $4,800. the fica tax rate for social security is 6.