Asked by Joshua

What are the social security and Medicare taxes due on gross earnings of $60,400 per year for Tricia Marvel, a self-employed commercial artist?
Round dollars to the nearest cent.

Answers

Answered by PsyDAG
From Google:

The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
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