1: Paul Robinson's filing status is married filing jointly, and
he has earned gross pay of $2,850. Each period he makes a 403(b)
contribution of 6.5% of gross pay . His current year taxable
earnings for Medicare tax, to date, are $271,000.
Total Medicare Tax = $
2: Stephen Belcher's filing status is single, and he has earned
gross pay of $1,860. Each period he makes a 401(k) contribution of
9% of gross pay and contributes 1% of gross pay to a dependent care
flexible spending plan. His current year taxable earnings for
Medicare tax, to date, are $198,250.
Total Medicare Tax = $
3: Sidney Black's filing status is head of household, and he has
earned gross pay of $970. Each period he contributes $50 to a
flexible spending plan. His current year taxable earnings for
Medicare tax, to date, are $86,400.
Total Medicare Tax = $
4: Bill Clay's filing status is married filing separately, and
he has earned gross pay of $1,880. Each period he makes a 403(b)
contribution of 11% of gross pay and contributes $70 to a cafeteria
plan. His current year taxable earnings for Medicare tax, to date,
are $124,700.
Total Medicare Tax = $
Answer 1
Taxable Earnings = 2850.00
Medicare Tax = $2850.00 * 2.35% = $66.98
Answer 2
Gross pay = $1860
Flexible spending account = 1860*1% = 18.60
Taxable Earnings for Medicare tax = 1860-18.60 = 1841.40
Medicare Tax = 1841.40*2.35%= 43.27
Answer 3
Gross Pay = $970.00
Flexible spending plan = 50
Taxable Earnings for Medicare Tax = $970.00 - $50.00 = $920.00
Medicare Tax = $920.00 * 2.35% = 21.62
Answer 4
Gross Pay = $1880.00
Cafeteria Plan = $70
Taxable Earnings for Medicare Tax = $1880.00 - $70.00 = $1810.00
Medicare Tax = $1810.00 * 2.35% = 42.54
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