This page (revision-42) 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
42 26-Nov-2021 10:22 17 KB mmcfarland to previous
41 26-Nov-2021 10:22 17 KB mmcfarland to previous | to last

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US Federal Tax Calculation
US Federal Tax Calculation

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At line 210 changed one line
FICA ER Calculation:
;FICA ER Calculation:
|FICA Taxable Earnings|= FICA_Wages_Total – FICA_125_Total|
|FICA Taxable Earnings|= 63354.05 – 1850.74 | = 61503.31
\\
|FICA ER Contribution|= FICA Taxable Earnings x FICA Rate|
|FICA ER Contribution|= 61503.31 x 0.062|= 3813.21
\\
|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)
At line 212 changed 2 lines
FICA Taxable Earnings = FICA_Wages_Total – FICA_125_Total
FICA Taxable Earnings = 63354.05 – 1850.74 = 61503.31
|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)
At line 215 changed 2 lines
FICA ER Contribution = FICA Taxable Earnings x FICA Rate
FICA ER Contribution = 61503.31 x 0.062 = 3813.21
;Medicare ER Calculation
|MEDI ER Contribution|= FICA Taxable Earnings x FICA Rate|
|MEDI ER Contribution|= 61503.31 x 0.0145 |= 891.80
\\
|MEDI ER YTD so far|= YTD PC 7030 Medicare ER + PC 7034 RR Tier1 Med ER|
|MEDI ER YTD so far|= 423.35 + 385.71 | = 809.06 (MEDI.ytd so far)
\\
|MEDI ER this pay|= MEDI ER Contribution – MEDI ER YTD so far|
MEDI ER this pay|= 891.80 – 809.06 |= 82.74 (RPREGC slight rounding 82.75)
At line 218 removed 19 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 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
MEDI ER Contribution =: FICA Taxable Earnings x FICA Rate
MEDI ER Contribution =: 61503.31 x 0.0145 = 891.80
MEDI ER YTD so far = YTD PC 7030 Medicare ER + PC 7034 RR Tier1 Med ER
MEDI ER YTD so far = 423.35 + 385.71 = 809.06 (MEDI.ytd so far)
MEDI ER this pay = MEDI ER Contribution – MEDI ER YTD so far
MEDI ER this pay = 891.80 – 809.06 = 82.74 (RPREGC slight rounding 82.75)
At line 238 removed one line
At line 241 changed one line
|FIT_Wages|Usage 6051 Pre FWT Earnings|6153.82
|RRTA_Wages|Usage 6306 Pre-RR Tier1 SOC ER Earnings|6079.97
At line 244 removed 4 lines
FIT_Wages Usage 6051 Pre FWT Earnings 6153.82
RRTA_Wages Usage 6306 Pre-RR Tier1 SOC ER Earnings 6079.97
This page (revision-42) was last changed on 26-Nov-2021 10:22 by mmcfarlandTop