QuestionCalculate Social Security, Medicare taxes, and FIT for Jordon Barrett, earning \$12,400 monthly with prior earnings of \$142,020.

Studdy Solution
To calculate the Federal Income Tax (FIT), we need to use the percentage method. This involves using tax tables, which are not provided in the problem. Therefore, we cannot calculate the FIT in this step.
Jordon Barrett's Social Security taxes are \$48.36 and his Medicare taxes are \$179.80. The FIT cannot be calculated without the tax tables.