This page (revision-35) was last changed on 26-Nov-2021 10:22 by mmcfarland

This page was created on 26-Nov-2021 10:22 by jmyers

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Version Date Modified Size Author Changes ... Change note
35 26-Nov-2021 10:22 17 KB mmcfarland to previous
34 26-Nov-2021 10:22 17 KB mmcfarland to previous | to last
33 26-Nov-2021 10:22 17 KB mmcfarland to previous | to last
32 26-Nov-2021 10:22 17 KB rforbes to previous | to last PR_US_Federal_Tax_Calc ==> Taxation - US Federal
31 26-Nov-2021 10:22 17 KB jmyers to previous | to last
30 26-Nov-2021 10:22 17 KB jmyers to previous | to last
29 26-Nov-2021 10:22 17 KB jmyers to previous | to last
28 26-Nov-2021 10:22 17 KB jmyers to previous | to last
27 26-Nov-2021 10:22 17 KB jmyers to previous | to last
26 26-Nov-2021 10:22 17 KB jmyers to previous | to last
25 26-Nov-2021 10:22 18 KB jmyers to previous | to last
24 26-Nov-2021 10:22 18 KB jmyers to previous | to last
23 26-Nov-2021 10:22 18 KB jmyers to previous | to last
22 26-Nov-2021 10:22 18 KB jmyers to previous | to last
21 26-Nov-2021 10:22 18 KB jmyers to previous | to last

Page References

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Taxation - US Federal
Taxation - US Federal

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Difference between version and

At line 58 changed one line
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At line 116 removed one line
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At line 189 changed 3 lines
YTD Usage 6261 Pre-FICA Employer Earnings: 51057.92
YTD Usage 6051 Pre FWT Earnings 51747.29
YTD Addn FICA Wages: 51057.92 – 51747.29 = -689.37 (negative means FICA Earn < Pre-FWT Earn)
|YTD Usage 6261 Pre-FICA Employer Earnings| |51057.92
|YTD Usage 6051 Pre FWT Earnings| |51747.29
|YTD Addn FICA Wages|51057.92 -€“ 51747.29|= -689.37 (negative means FICA Earn < Pre-FWT Earn)
At line 193 changed 2 lines
Addn FICA_Wages.ctd = -80.11 FICA.ytdEE = 3459.44 (dedn so far) MEDI.ytd = 809.06 (dedn so far)
Addn FICA_Wages.ytd = -689.37 FICA.ytdER = 3459.44 (dedn so far)
|Addn FICA_Wages.ctd|= -80.11|FICA.ytdEE|= 3459.44 (dedn so far)|MEDI.ytd = 809.06 (dedn so far)
|Addn FICA_Wages.ytd|= -689.37|FICA.ytdER|= 3459.44 (dedn so far)|
At line 196 changed 6 lines
YTD 125 Total (from YTD) = 1649.91 (prorate to YTD FIT / FSP Wages, i.e. 51747.29 and 5700)
YTD 401K Total (from YTD) = 2026.80 (prorate to YTD FIT / FSP Wages, i.e. 51747.29 and 5700)
FIT_ben_125.ctd = 200.83 FSP_ben_125.ctd = 0
FIT_ben_125.ytd = 1486.20 FSP_ben_125.ytd = 163.71 (1486.20 + 163.71 = 1649.91)
FIT_ben_401K.ctd = 239.57 FSP_ben_401K.ctd = 0
FIT_ben_401K.ytd = 1825.70 FSP_ben_401K.ytd = 201.1 (1825.70 + 201.1 = 2026.80)
|YTD 125 Total (from YTD)|= 1649.91 (prorate to YTD FIT / FSP Wages, i.e. 51747.29 and 5700)
|YTD 401K Total (from YTD)|= 2026.80 (prorate to YTD FIT / FSP Wages, i.e. 51747.29 and 5700)
At line 203 changed one line
Calculate FICA Wages for the Year:
|FIT_ben_125.ctd|= 200.83|FSP_ben_125.ctd|= 0|
|FIT_ben_125.ytd|= 1486.20|FSP_ben_125.ytd|= 163.71|(1486.20 + 163.71 = 1649.91)
|FIT_ben_401K.ctd|= 239.57|FSP_ben_401K.ctd|= 0|
|FIT_ben_401K.ytd|= 1825.70|FSP_ben_401K.ytd|= 201.1|(1825.70 + 201.1 = 2026.80)
At line 205 changed 2 lines
FIT_Wages.ctd + Addn FICA_Wages.ctd + FIT_Wages.ytd + Addn FICA_Wages.ytd
6676.24 + (-80.11) + 51747.29 + (-689.37) = 57654.05
__Calculate FICA Wages for the Year:__
|FIT_Wages.ctd|6676.24
|Addn FICA_Wages.ctd|+ (-80.11)
|FIT_Wages.ytd| + 51747.29
|Addn FICA_Wages.ytd| + (-689.37)
| |= 57654.05
At line 208 changed 2 lines
FSP_Wages.ctd + FSP_Wages.ytd
0 + 5700 = 5700
|FSP_Wages.ctd|0
|FSP_Wages.ytd|+ 5700
| |= 5700
At line 211 changed one line
FICA_Wages_Total = 57654.05 + 5700 = 63354.05
|FICA_Wages_Total|57654.05 + 5700|= 63354.05
At line 213 changed 3 lines
Calculate 125 Exemption for the Year:
FICA_125_Total = FIT_ben_125.ctd + FSP_ben_125.ctd + FIT_ben_125.ytd + FSP_ben_125.ytd
FICA_125_Total = 200.83 + 0 + 1486.20 + 163.71 = 1850.74
__Calculate 125 Exemption for the Year:__
|FIT_ben_125.ctd|200.83
|FSP_ben_125.ctd|+ 0
|FIT_ben_125.ytd|+1486.20
|FSP_ben_125.ytd|+163.71
|FICA_125_Total|=1850.74
At line 217 changed one line
FICA ER Calculation:
__FICA ER Calculation:__
|FICA_Wages_Total|63354.05
|FICA_125_Total|-€“ 1850.74
|__FICA Taxable Earnings__|= 61503.31
At line 219 changed 2 lines
FICA Taxable Earnings = FICA_Wages_Total – FICA_125_Total
FICA Taxable Earnings = 63354.05 – 1850.74 = 61503.31
|FICA Taxable Earnings|61503.31
|FICA Rate|x 0.062
|__FICA ER Contribution__|= 3813.21
At line 222 changed 2 lines
FICA ER Contribution = FICA Taxable Earnings x FICA Rate
FICA ER Contribution = 61503.31 x 0.062 = 3813.21
|YTD PC 7031 FICA ER|1810.19
|PC 7033 RR Tier1 Soc ER|1649.25
|__FICA ER YTD So Far__|= 3459.44 (FICA.ytdER so far)
At line 225 changed 2 lines
FICA ER YTD so far = YTD PC 7031 FICA ER + PC 7033 RR Tier1 Soc ER
FICA ER YTD so far = 1810.19 + 1649.25 = 3459.44 (FICA.ytdER so far)
|FICA ER Contribution|3813.21
|FICA ER YTD So Far|- 3459.44
|__FICA ER This Pay__|= 353.77 (RPREGC slight rounding 353.80)
At line 228 changed 2 lines
FICA ER this pay = FICA ER Contribution – FICA ER YTD so far
FICA ER this pay = 3813.21 – 3459.44 = 353.77 (RPREGC slight rounding 353.80)
__Medicare ER Calculation__
At line 231 removed 3 lines
Medicare ER Calculation
At line 242 changed one line
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This page (revision-35) was last changed on 26-Nov-2021 10:22 by mmcfarlandTop