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Business, 15.07.2019 22:50 whereswoodruff

Gary marks is paid on a monthly basis. for the month of january of the current year, he earned a total of $8,888. fica tax for social security is 6.2% on the first $118,500 of earnings each calendar year and the fica tax for medicare is 1.45% of all earnings. the futa tax rate is 0.6%, and the suta tax rate is 5.4%. both unemployment taxes are applied to the first $7,000 of an employee's pay. the amount of federal income tax withheld from his earnings was $1,474.77. what is the amount of the employer's payroll taxes expenses for this employee?

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