Lynette is the CEO of a publicly traded company TT company and earns a salary of $380,000 in the current year. What is TTT Corporation's after-tax cost of paying Lynette's salary excluding FICA taxes?
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Lynette is the CEO of a publicly traded company TT company and earns a salary of $380,000 in the current year.
What is TTT Corporation's after-tax cost of paying Lynette's salary excluding FICA taxes?
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- Lynette is the CEO of publicly traded TTT Corporation and earns a salary of $272,500 in the current year. What is TTT Corporation’s after-tax cost of paying Lynette’s salary excluding FICA taxes?Gosney Corporation has two employees. During the current year, Clinton earns $80,000 and Trahn earns $150,000. How much social Security tax does Gosney have to pay on the salaries earned by Clinton and Trahn?The Diamond Corporation has two employees, Emily and Mary. Assume Diamond does not defer payroll tax payments or claim employee retention credits or sick and family leave credits. a. If Emily earns wages of $26,000 for 2020, calculate the total amount of the FICA tax that must be paid: by Emily by Diamond Corporation Total b. If Mary earns wages of $164,000 for 2020, calculate the total amount of the FICA tax that must be paid: by Mary by Diamond Corporation Total
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