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


Please select the best answer from the choices provided

A
B
C
D

Answer 1

A

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