Business, 01.07.2021 05:10 joelwilliamjoel

An employee earns $6,400 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current Futa tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $218 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $186 and contributes $93 to a retirement plan each month. What is the amount the employer should record as payroll taxes expense for the employee for the month of January?

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An employee earns $6,400 per month working for an employer. The FICA tax rate for Social Security is...

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