During the first week of February, Gabe Hopen earned $300 . Assume that FICA taxes are 7.65 percent of wages up to $106,800, state unemployment tax is 5.0 percent of wages up to $13,000, and federal unemployment tax is 0.8 percent of wages up to $13,000 . Assume that Gabe has voluntary withholdings of $10 (in addition to taxes) and that federal and state income tax withholdings are $18 and $6,
respectively. Using the information above, what is the employer's payroll tax expense for the week, assuming that Gabe Hopen is the only employee?
a. $24.00
b. $40.35
c. $28.00
d. $17.40
B
Business
You might also like to view...
A purchaser was offered terms of trade credit of 2/10, net 30, with an invoice date of January 1. Which one of the following acts threatens creditworthiness?
A) Taking the discount, paying on January 10. B) Ignoring the discount, paying on January 30. C) Ignoring the discount, paying on February 9. D) Taking the discount, paying on January 5.
Business
In order to improve performance, goals should be specific and ____________________________
a. diverse b. creative c. reasonably challenging d. outside the box
Business