What will be the total deduction for social security and Medicare taxes on Juanita's next weekly paycheck of $720 if she has already earned $10,800 this year? Social Security tax is 6.2% of wages up to $106,800. Medicare tax is 1.45% of all wages.
2 answers
Looks like it will be 7.35% of $720
What will be the total deduction for social security and medicare taxes on Juanita's next weekly paycheck of $720 if she has already earned $10,800 this year? Social Security tax is 6.2% of wages up to $106,800. Medicare tax is 1.45% of all wages.
1 answer