Question
To date, Jay Ward has xumulative earnings of $ 107,600. This week he is paid $3,000. What is the total amount of Social Security tax for this week? Assume a rate of 6.2% on $110,100 for Social Security and 1.45% for Medicare.
Answers
Khiesha
18600
The HW Guy
Amount paid this week = $3,000
Social security tax = 6.2%
6.2% = 0.062
$3,000 x 0.062 = $186.00
The total amount of social security tax for this week $186.00
Social security tax = 6.2%
6.2% = 0.062
$3,000 x 0.062 = $186.00
The total amount of social security tax for this week $186.00