I have attached an Excel spreadsheet that has to be done with it. I have figured out the employees’s taxes that are due but am having a hard time figuring out the employers side of them.<\/p>\n
The form on page 6-45 shows the amounts that appear in the Earnings to Date column of the employees\u2019 earnings records for 10 full-time and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 7, the company\u2019s last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 14. In the state where Unger Company is located, the tax rates and bases are as follows:<\/p>\n
Tax on Employees:<\/p>\n
FICA\u2014OASDI …………………………………………. 6.2% on first $118,500<\/p>\n
FICA\u2014HI ……………………………………………….. 1.45% on total earnings<\/p>\n
SUTA ……………………………………………………… 0.5% on first $8,000<\/p>\n
Tax on Employer:<\/p>\n
FICA\u2014OASDI …………………………………………. 6.2% on first $118,500<\/p>\n
FICA\u2014HI ……………………………………………….. 1.45% on total earnings<\/p>\n
FUTA ……………………………………………………… 0.6% on first $7,000<\/p>\n
SUTA ……………………………………………………… 1.8% on first $8,000<\/p>\n
In the appropriate columns of the form on page 6-45, do the following: 1. 2. Compute the amount to be withheld from each employee\u2019s earnings on October 14 for (a) FICA\u2014OASDI, (b) FICA\u2014HI, and (c) SUTA, and determine the total employee taxes. Record the portion of each employee\u2019s earnings that is taxable under FICA, FUTA, and SUTA, and calculate the total employer\u2019s payroll taxes on the October 14 payroll.<\/p>\n","protected":false},"excerpt":{"rendered":"
I have attached an Excel spreadsheet that has to be done with it. I have figured out the employees’s taxes that are due but am having a hard time figuring out the employers side of them. The form on page Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-49578","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=49578"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49578\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=49578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=49578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=49578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}