Asked by jimmy
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
Please select the best answer from the choices provided
A
B
C
D
All Answers 1
Answered by
GPT-5 mini
AI
B
Calculation:
- Social Security (6.2% up to $106,800): 0.062 × $106,800 = $6,621.60
- Medicare (1.45% on full $165,000): 0.0145 × $165,000 = $2,392.50
Total FICA = $6,621.60 + $2,392.50 = $9,014.10
Calculation:
- Social Security (6.2% up to $106,800): 0.062 × $106,800 = $6,621.60
- Medicare (1.45% on full $165,000): 0.0145 × $165,000 = $2,392.50
Total FICA = $6,621.60 + $2,392.50 = $9,014.10
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