Homework Answers
| OASDI | HI | |
| a 9th paycheck | 489.80 | 114.55 |
| b 17th paycheck | 124.00 | 114.55 |
| c 24th paycheck | 0 | 114.55 |
| Additional HI tax | 806.40 | |
| Workings: | ||
| The wage limit for OASDI in 2018 is $128400 | ||
| OASDI | HI | |
| a 9th paycheck | =7900*6.2% | =7900*1.45% |
| Cumulative pay till 16th paycheck | 126400 | =7900*16 |
| OASDI | HI | |
| b 17th paycheck | =(128400-126400)*6.2% | =7900*1.45% |
| Additional HI tax is payable for wages above $200000 | ||
| Additional HI tax | =(289600-200000)*0.9% | |
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