A Company's Employer Payroll Tax Rates Are 0

Essay

A company's employer payroll tax rates are 0.6% for federal unemployment taxes,5.4% for state unemployment taxes,6.2% for FICA social security taxes on earnings up to $127,200,and 1.45% for FICA Medicare taxes on all earnings.Compute the W-2 Wage and Tax Statement information required below for the following employees:
Employee Gross Earnings Federal Income Taxes Withheld
A.Baylor $114,000 $17,600
C.Jasmine 52,000 8,200
A.Baylor C.Jasmine
W-2 Information: ________ ________
Federal Income Tax Withheld…………..________ ________
Wages,Tips,Other Compensation……...________ ________
Social Security Tax Withheld…………...________ ________
Social Security Wages…………………..________ ________
Medicare Tax Withheld………………… ________ ________
Medicare Wages………………………… ________ ________