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

Incoming links Outgoing links
Taxation - US Federal
Taxation - US Federal

Version management

Difference between version and

At line 144 changed one line
| |= 310.42
|__Total__|= 310.42
At line 210 changed one line
| |= 57654.05
|__Total__|= 57654.05
At line 214 changed one line
| |= 5700
|__Total__|= 5700
At line 223 changed one line
|FICA_125_Total|=1850.74
|__FICA_125_Total__|=1850.74
At line 249 changed one line
|MEDI ER YTD So Far__|= 809.06 (MEDI.ytd So Far)
|__MEDI ER YTD So Far__|= 809.06 (MEDI.ytd So Far)
At line 253 changed one line
|MEDI ER This Pay|= 82.74 (RPREGC Slight Rounding 82.75)
|__MEDI ER This Pay__|= 82.74 (RPREGC Slight Rounding 82.75)
At line 277 changed 3 lines
Next page example shows the '€˜RR Self-Adjust' method€™ and should be used when the employee does not have FICA employment
Next page example shows the '€˜RR Self-Adjust' method€™ and should be used when the employee does not have FICA employment.
\\ \\
At line 281 removed one line
At line 303 removed 4 lines
|FIT_ben_125.ctd|= 194.22 FSP_ben_125.ctd = 0
|FIT_ben_125.ytd|= 1685.77 FSP_ben_125.ytd = 164.47 (1685.77 + 164.47 = 1850.24)
|FIT_ben_401K.ctd|= 225.31 FSP_ben_401K.ctd = 0
|FIT_ben_401K.ytd|= 2064.91 FSP_ben_401K.ytd = 204.46 (2064.91 + 204.46 = 2269.37)
At line 308 changed one line
Calculate RRTA Wages for the Year:
|FIT_ben_125.ctd|= 194.22|FSP_ben_125.ctd|= 0|
|FIT_ben_125.ytd|= 1685.77|FSP_ben_125.ytd|= 164.47| (1685.77 + 164.47 = 1850.24)
|FIT_ben_401K.ctd|= 225.31|FSP_ben_401K.ctd|= 0|
|FIT_ben_401K.ytd|= 2064.91|FSP_ben_401K.ytd|= 204.46| (2064.91 + 204.46 = 2269.37)
At line 310 changed 2 lines
FIT_Wages.ctd + Addn RRTA_Wages.ctd + FIT_Wages.ytd + Addn RRTA_Wages.ytd
6153.82 + (-73.85) + 58423.53 + (-769.48) = 63734.02
__Calculate RRTA Wages for the Year:__
|FIT_Wages.ctd|6153.82
|Addn RRTA_Wages.ctd|+ (-73.85)
|FIT_Wages.ytd|+ 58423.53
|Addn RRTA_Wages.ytd|+ (-769.48)
|__Total__|= 63734.02
At line 313 changed 2 lines
FSP_Wages.ctd + FSP_Wages.ytd
0 + 5700 = 5700
|FSP_Wages.ctd|0
|FSP_Wages.ytd|+ 5700
|__Total__|= 5700
At line 316 changed one line
RRTA_Wages_Total = 63734.02 + 5700 = 69434.02
|RRTA_Wages_Total =|63734.02 + 5700|= 69434.02
At line 318 changed 3 lines
Calculate 125 Exemption for the Year:
RRTA_125_Total = FIT_ben_125.ctd + FSP_ben_125.ctd + FIT_ben_125.ytd + FSP_ben_125.ytd
RRTA_125_Total = 194.22 + 0 + 1685.77 + 164.47 = 2044.46
__Calculate 125 Exemption for the Year__
|FIT_ben_125.ctd|194.22
|FSP_ben_125.ctd|+ 0
|FIT_ben_125.ytd|+ 1685.77
|FSP_ben_125.ytd|+ 164.47
|__RRTA_125_Total__|= 2044.46
At line 322 changed one line
RRTA Tier1 ER Calculation:
__RRTA Tier1 ER Calculation:__
|RRTA_Wages_Total|69434.02
|RRTA_125_Total|-€“ 2044.46
|__RRTA Taxable Earnings__|=67389.56
At line 324 changed 2 lines
RRTA Taxable Earnings = RRTA_Wages_Total – RRTA_125_Total
RRTA Taxable Earnings = 69434.02 – 2044.46 = 67389.56
|RRTA Taxable Earnings|67389.56
|RRTA Tier1 ER Rate|x 0.062
|__RRTA Tier1 ER Contribution__|=4178.15
At line 327 changed 2 lines
RRTA Tier1 ER Contribution =: RRTA Taxable Earnings x RRTA Tier1 ER Rate
RRTA Tier1 ER Contribution =: 67389.56 x 0.062 = 4178.15
|YTD PC 7031 FICA ER|2163.99
|PC 7033 RR Tier1 Soc ER|+ 1649.25
|__RRTA ER YTD so far__|= 3813.24 (RRTA.ytdER so far)
At line 330 changed 4 lines
RRTA ER YTD so far = YTD PC 7031 FICA ER + PC 7033 RR Tier1 Soc ER
RRTA ER YTD so far = 2163.99 + 1649.25 = 3813.24 (RRTA.ytdER so far)
RRTA Tier1 ER this pay = RRTA ER Contribution – RRTA ER YTD so far
RRTA Tier1 ER this pay = 4178.15 – 3813.24 = 364.81
|RRTA ER Contribution|4178.15
|RRTA ER YTD so far|- 3813.24
|__RRTA Tier1 ER this pay__|= 364.81
This page (revision-35) was last changed on 26-Nov-2021 10:22 by mmcfarlandTop