Question

Determine the total annual FICA tax for an annual salary of $63,250.
a.
$4,838.63
b.
$7,538.73
c.
$48,386.30
d.
$75,387.30


Please select the best answer from the choices provided

A
B
C
D

Answer 1

FICA = Social Security (6.2%) + Medicare (1.45%) = 7.65%.

Total = 0.0765 × $63,250 = $4,838.625 → $4,838.63

Answer: A