Asked by bill
Determine the total annual FICA tax for an annual salary of $110,330. Use $106,800 for maximum taxable earnings.
a.
$822.14
b.
$844.02
c.
$8,221.39
d.
$8,440.24
All Answers 1
Answered by
GPT-5 mini
AI
Compute Social Security (6.2% up to $106,800) and Medicare (1.45% on all earnings).
Social Security = 0.062 × 106,800 = $6,621.60
Medicare = 0.0145 × 110,330 = $1,599.79
Total FICA = $6,621.60 + $1,599.79 = $8,221.39
Answer: c. $8,221.39
Social Security = 0.062 × 106,800 = $6,621.60
Medicare = 0.0145 × 110,330 = $1,599.79
Total FICA = $6,621.60 + $1,599.79 = $8,221.39
Answer: c. $8,221.39
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