Question

Additional Medal Points

For the current pay period, compute the following for the employees.

Note: Round each to the nearest cent and if an amount is zero, enter "0".

1. Bode has cumulative earnings of $54,800. His current earnings are $3,014.00.
   

   Bode's 2019 OASDI withholding is: $
   And his 2019 HI withholding is: $

2. 
   
3. Dale's current earnings total a gross amount of $7,095.00. Year to date he has earnings of $129,000.
   

   Dale's 2019 OASDI withholding is: $
   And his 2019 HI withholding is: $

4. 
   
5. Brandi's current earnings total a gross amount of $10,505. Year to date earnings are $191,000.
   

   Brandi's 2019 OASDI withholding is: $
   And her 2019 total HI withholding is: $

Compute the total annual tax for the following individuals.

Note: Round each to the nearest cent.

1. Alex has self-employment earnings of $56,200.

   Alex's 2019 total self-employment withholding is: $

2. 
   
3. Hope has self-employment earnings of $135,000.

   Hope's 2019 total self-employment withholding is: $

4. 
   
5. Michelle has self-employment earnings of $236,000.

   Michelle's 2019 total self-employment withholding is: $

Compute the following for John who is both an employee and self-employed.

Note: Round the answer to the nearest cent.

John worked for the NFL, earning for the year $96,000. In addition, during his free time, he shoveled snow in the neighborhood, earning $36,000 for the year.

John's 2019 self-employment FICA withholding is: $

Answer 1

Part A

Bode's 2019 OASDI withholding is: $186.87 (3014*6.2%)
And his 2019 HI withholding is: $43.70 (3014*1.45%)

Part B

Dale's 2019 OASDI withholding is: $439.89 (7095*6.2%)
And his 2019 HI withholding is: $102.88 (7095*1.45%)

Part C

Brandi's current earnings total a gross amount of $10,505. Year to date earnings are $191,000.

Brandi's 2019 OASDI withholding is: $0 (as it beyond $132,900)
And her 2019 total HI withholding is: $2935.37 ((200000*1.45%)+(((191000+10505)-200000)*2.35%))

Part D

Alex's 2019 total self-employment withholding is: $7940.81 (56200*92.35%*(12.4%+2.90%))

Part E

Hope's 2019 total self-employment withholding is: $18778.17 (132900*92.35%*(12.4%+2.90%))

Part F

Michelle's 2019 total self-employment withholding is: $18778.17 (132900*92.35%*(12.4%+2.90%))

Part G

John's 2019 self-employment FICA withholding is: $17442 (36000*(6.2%+1.45%))+(96000*15.30%))