Determine deduction for medicare tax

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Employee three December salaries 9, 900 year to date earnings through November 30th, 97.600 determine the amount of Social Security tax to be withheld from each employee's gross pay for December. Assuming a 6.2% social security tax rate and earning based of 97,500 for the counter year. Exercises 10.4 determine deduction for Medicare tax. Using net earnings that all sours and wages are subject to the tax data given the in exercise 10.3 determine amount of Medicare tax to be withheld from each employee's gross pay for December. Assume a 1.45% Medicare tax rate and that all salaries and wages are subject to the tax.

Reference no: EM13298634

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