Question

Crow earned $585.15 during the week ended March 1, 20--. Prior to payday, Crow had cumulative gross earnings of $4,733.20. Round your answers to the nearest cent. a. The amount of OASDI taxes to withhold from Crow's pay is $ . b. The amount of HI taxes to withhold from Crow's pay is

Answer 1

A. $36.28

B. $8.48

Step-by-step explanation:

a. Calculation for the amount of OASDI taxes to withhold from Crow's pay

OASDI taxes is 6.2%

Hence,

OASDI taxes to withhold = 585.15*0.62

OASDI taxes to withhold = $36.28

Therefore the OASDI taxes to withhold from Crow's pay is $36.28

b. Calculation for the amount of HI taxes to withhold from Crow's pay

HI taxes is 1.45%

Hence,

HI taxes to withhold =585.15*0.0145

HI taxes to withhold=$8.48

Therefore HI taxes to withhold from Crow's pay is $8.48