Hi, I am looking for a formula to use in forecasting employer paid Social Security and Medicare taxes by month or quarter
I found a formula post in the forum when I searched FICA but it isn't quite working for me. It is not adding in medicare tax. I copied the formula into cell E19, but it probably needs to be updated to pull the right cells in my example.
ER Soc Security tax is 7.65$ applied to the first $142,800 of salary.
Medicare tax is 1.45% of salary, with no salary cap.
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