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Solve the following problems using 6.2%, up to $117,000, for social security tax and 1.45%, no wage limit, for Medicate tax. Brian Hickman is an...
Solve the following problems using 6.2%, up to $117,000, for social security tax and 1.45%, no wage limit, for Medicate tax.
3. Brian Hickman is an executive with Westco Distributors. His gross earnings are $9,800 per month.
a. What are the withholdings for social security and Medicare for Brian in his January paycheck?
b. In what month will Brian's salary reach the social security wage base limit?
c. What are the social security and Medicare tax withholdings for Brian in the month named in part b?