john waits owns a small shop with three employees. for one payroll period the total withholding tax for all…

john waits owns a small shop with three employees. for one payroll period the total withholding tax for all employees was $1,688. the total employees social security tax was $173 and the total employers social security tax was $173. the total employees medicare tax was $108. how much must john deposit as the employers share of social security tax and medicare tax? what is the total tax that must be deposited?\njohn must deposit $ as the employers share of social security tax and medicare tax.\n(simplify your answer.)\nthe total tax that must be deposited is $\n(simplify your answer.)

john waits owns a small shop with three employees. for one payroll period the total withholding tax for all employees was $1,688. the total employees social security tax was $173 and the total employers social security tax was $173. the total employees medicare tax was $108. how much must john deposit as the employers share of social security tax and medicare tax? what is the total tax that must be deposited?\njohn must deposit $ as the employers share of social security tax and medicare tax.\n(simplify your answer.)\nthe total tax that must be deposited is $\n(simplify your answer.)

Answer

Explanation:

Step1: Determine employer's share of Social Security and Medicare tax

The employer's share of Social Security tax is the same as the employees' Social Security tax, which is $173. The employer's share of Medicare tax is the same as the employees' Medicare tax, which is $108. So the total employer - share is the sum of these two amounts. $173 + 108=281$

Step2: Calculate total tax to be deposited

The total tax to be deposited is the sum of the total withholding tax, the employer's share of Social Security tax, and the employer's share of Medicare tax. The total withholding tax is $1688$, and the employer's share of Social Security and Medicare tax is $281$. $1688+281 = 1969$

Answer:

John must deposit $281$ as the employer's share of Social Security tax and Medicare tax. The total tax that must be deposited is $1969$.