Bill James earned $800 for the week. If his cumulative earnings are $40,000 prior to this pay period, how much FICA-OASDI must his employer withhold from his earnings? FICA tax rates are OASDI 6.2% on a limit of $128,400. (Round your answer to the nearest whole dollar.)
A) $496
B) $5
C) $50
D) None of the above is correct.
Correct Answer:
Verified
Q1: Net pay equals:
A) gross pay less all
Q3: Dave Brown's cumulative earnings are $104,000, and
Q4: There are two parts to FICA:
A) old
Q5: Under the Fair Labor Standards Act, for
Q6: The Federal Insurance Contributions Act is better
Q7: The Fair Labor Standards Act must be
Q8: FICA taxes provide funding to the government
Q9: Dave Brown's cumulative earnings are $90,000, and
Q10: The law that governs overtime earnings is
Q11: Payroll taxes include all of the following
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