use 6.2% as the social security tax rate and 1.45% as the medicare tax rate. 1. thomas is a police…

use 6.2% as the social security tax rate and 1.45% as the medicare tax rate. 1. thomas is a police dispatcher who earns $709.62 per week. he is single and claims one withholding allowance. determine his federal tax withholdings, social security tax, and medicare tax.

use 6.2% as the social security tax rate and 1.45% as the medicare tax rate. 1. thomas is a police dispatcher who earns $709.62 per week. he is single and claims one withholding allowance. determine his federal tax withholdings, social security tax, and medicare tax.

Answer

Explanation:

Step1: Calculate Social - Security tax

The Social - Security tax rate is 6.2%. The formula for calculating Social - Security tax is $Social\ Security\ tax = Earnings\times Social\ Security\ tax\ rate$. Given earnings of $709.62$ per week and a tax rate of $0.062$, we have $709.62\times0.062=$43.90644\approx$43.91$.

Step2: Calculate Medicare tax

The Medicare tax rate is 1.45%. The formula for calculating Medicare tax is $Medicare\ tax = Earnings\times Medicare\ tax\ rate$. So, $709.62\times0.0145 = $10.29949\approx$10.30$.

Step3: Calculate federal tax withholdings (assuming no additional information on tax - tables, we can't calculate precisely. But if we assume a simple flat - rate for illustration purposes, let's say a made - up rate of 10% for demonstration).

The formula for federal tax withholdings is $Federal\ tax\ withholdings=Earnings\times Federal\ tax\ rate$. So, $709.62\times0.1=$70.962\approx$70.96$.

Answer:

Federal tax withholdings: $$70.96$, Social Security tax: $$43.91$, Medicare tax: $$10.30$