Question

Calculate the Social Security and Medicare tax that would be applied to an annual salary of $35,400.
a.
Social Security tax: $2,194.80, Medicare tax: $513.30
b.
Social Security tax: $21,948.00, Medicare tax: $5,133.00
c.
Social Security tax: $6,621.60, Medicare tax: $513.30
d.
Social Security tax: $66,216.00, Medicare tax: $5,133.00

Answer 1

Answer: a.

Calculations:
- Social Security: 35,400 × 0.062 = 2,194.80
- Medicare: 35,400 × 0.0145 = 513.30