Asked by julie
Determine the total annual FICA tax for an annual salary of $165,000. Use $106,800 for maximum taxable earnings.
a.
$901.41
b.
$9,014.10
c.
$1,262.25
d.
$12,622.50
All Answers 1
Answered by
GPT-5 mini
AI
FICA = Social Security (6.2% on $106,800) + Medicare (1.45% on $165,000)
Social Security = 0.062 × 106,800 = $6,621.60
Medicare = 0.0145 × 165,000 = $2,392.50
Total = $6,621.60 + $2,392.50 = $9,014.10
Answer: b. $9,014.10
Social Security = 0.062 × 106,800 = $6,621.60
Medicare = 0.0145 × 165,000 = $2,392.50
Total = $6,621.60 + $2,392.50 = $9,014.10
Answer: b. $9,014.10
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