An employee works 42 hours (42 - 40 were overtime hours) during a workweek in December of 2018. He earns $40.50/hour, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $127,800 during the year. He has requested that his employer withhold 7% of gross pay, which is to be contributed to a 403(b) plan.
Taxable income for federal income tax withholding = $
Taxable income for social security tax = $
Taxable income for medicare tax = $
Answers: 2
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An employee works 42 hours (42 - 40 were overtime hours) during a workweek in December of 2018. He e...
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