Alex, an employee of Super Sunday, Inc, has gross salary for March of $5,500
The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. The total amount of employee FICA tax is $841.50. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.)
Indicate whether the statement is true or false
FALSE .Employee FICA tax = Gross Salary x FICA rate
Employee FICA tax = $5,500 x 7.65% = $420.75
You might also like to view...
A push marketing strategy differs from a pull marketing strategy in that a push marketing strategy ________
A) is directed at end-users B) is directed at channel intermediaries C) is a form of direct marketing D) uses social media and media advertising E) aims to build awareness, attraction, and loyalty and to reduce search costs
Personal channel of communication includes direct contact, such as a sales force or salespeople in a retail channel
Indicate whether the statement is true or false