Homework Answers
| Note maximum tax amount for social security tax is 118500 with rate of 6.2% | |||||||
| For Medicare rate = 1.45% | |||||||
| Social security tax = 118500*6.2% | 7347 | ||||||
| Medicare = 132000*1.45% | 1914 | ||||||
| Total tax = | 9261 | ||||||
| Correct answer is = | 9261 | ||||||
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