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Jones Company has the following employees on payroll:

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Please explain how you calculated the social security tax and the Medicare. I know how to get the federal but not these two.

Jones Company has the following employees on payroll:

Semimonthly Withholding Marital
Payroll Allowances Status

Heather $4,500 4 Married
Keith $4,800 3 Married
Thad $2,000 1 Single
Abbie $3,500 2 Single

Calculate the payroll for the last pay period in April. Include in your calculations federal withholding, social security and Medicare taxes.

Heather: FIT - $548.97 Keith: FIT - $670.49
SS- $279.00 SS - $297.60
Medicare - $65.25 Medicare - $69.60

Thad: FIT - $264.88 Abbie: FIT - $609.36
SS - $124.00 SS - $217.00
Medicare - $29.00 Medicare - $50.75

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Solution Summary

Jones Company has the following employees on payroll:

Semimonthly Withholding Marital
Payroll Allowances Status

Heather $4,500 4 Married
Keith $4,800 3 Married
Thad $2,000 1 Single
Abbie $3,500 2 Single

Calculate the payroll for the last pay period in April. Include in your calculations federal withholding, social security and Medicare taxes.

Heather: FIT - $548.97 Keith: FIT - $670.49
SS- $279.00 SS - $297.60
Medicare - $65.25 Medicare - $69.60

Thad: FIT - $264.88 Abbie: FIT - $609.36
SS - $124.00 SS - $217.00
Medicare - $29.00 Medicare - $50.75

Solution Preview

The textbooks are outdated. They are using the old percentages. But, we'll go along with the old percentages for your problem. Social Security is 6.2% ...

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