Trey morgan is an employee who is paid monthly. For the month of january of the current year, he earned a total of $4,540. The federal insurance contributions act (fica) tax for social security is 6. 2% of the first $137,700 earned each calendar year, and the federal insurance contributions act (fica) tax rate for medicare is 1. 45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $680. 70. His net pay for the month is:.

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02-12-2022
Business

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Trey morgan is an employee who is paid monthly. For the month of january of the current year, he earned a total of $4,540. The federal insurance contributions act (fica) tax for social security is 6. 2% of the first $137,700 earned each calendar year, and the federal insurance contributions act (fica) tax rate for medicare is 1. 45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $680. 70. His net pay for the month is:.

Sagot :

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