How do you calculate OASDI taxable wages?
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how do you calculate OASDI taxable wages for example: john bass is paid monthly. his annual salary is $24,000. his OASDI tax is $124 for dec 30th. what's his OASDI taxable wages?
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Answer:
just search the formula!!!
Lace at Yahoo! Answers Visit the source
Other answers
OASDI or social security tax is normally 6.2% of the first $106,800 of earned income. However this year that has been reduced to 4.2%. Therefore in your example, monthly wages of $2,000 taxed as 6.2% equals $124.
Mike
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