Question

please just explain how to know how much is deducted. i dont understand the question.

History Bookmarks People Tab Window Help sot.it/V2/ameblockquizid.c83ef961-214-4672-089-80c chio and taxes for an employee are below. How much is deducted for FICA Medicare Wages Fed Inc Tax o o State Income FICA-Med 1.45% 50.1664 FICA-SS 6.2% $10.00 o $1.00 $0.60 Medicare alla $3.64 TORS $0.16 fd Medicare and $0.68 for SS M icare and SU.5E TOSS Nothin the employer pays the full ame PIN: 738254 Boon . 1660 16:109

Answer 1

The tax rate for Social Security is 6.2%

The tax rate for Medicare is 1.45%

The amount of Social Security and Medicare tax can be obtained by multiplying tax rates by Wages

Medicare deduction = 10*1.45% = $0.15

Social Security deduction = 10*6.2% = $0.62

$0.15 for Medicare and $0.62 for SS