Question

Please solve this now. Everything is attached in the file. You need to provide a full solution. Thanks

Answer 1

Based on the requirements for FICA and Medicare tax, the amount to be withheld in March for FiCA is $685.10 and for Medicare is $160.23.

The amount to be withheld in December of FICA is $523.90 and for Medicare is $160.23.

How much is to be withheld for FICA?

In March, the amount to be withheld is:

= 11,050 x 6.2%

= $685.10

To find out the amount withheld in December, find out the earnings up to that point:

= 11,050 x 12

= $132,600

FICA can only be withheld on the first $130,000 so the amount of FICA In December is:

= 6.2% x ( 11,050 - (132,600 - 130,000))

= $523.90

What amount will be withheld for Medicare?

The amount will be the same for both March and December as Medicare is for all earnings:

= 11,050 x 1.45%

= $160.23

Find out more on Medicare taxes at brainly.com/question/1848671

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