Company Y has an employee who is paid weekly. For Company Y the employee FICA-...
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Accounting
Company Y has an employee who is paid weekly. For Company Y the employee FICA- OASDI tax rate is 10%. The limit for FICA-OASDI is $50000 of employee annual earning subject to the applicable tax. The employee earns $600 for the week and has cumulative earnings year to date through the previous week of $49800. How much is deducted from the employees weekly paycheck for FICA-OASDI?
A. -60-
B. 30
C. 600
D. 300
E. None of the above
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