BMX Company has one employee. FICA Social Security taxes are 6.20% of the first

BMX Company has one employee. FICA Social Security taxes are 6.20% of the first $106,800 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.80% and SUTA taxes are 2.90% of the first $7,000 paid to its employee.

 

Gross Pay through August

Gross Pay for September

a.

$

 5,900

$

 2,400

b.

 17,700

 3,100

c.

 99,000

 11,100

 

Compute BMX’s amounts for each of the above four taxes as applied to the employee’s gross earnings for September under situation (a),(b), and (c). (Round your answers to 2 decimal places.)

 
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.