Homework Answers
Answer :-
Given,
Alys makes $540 per week. So Income Earned by Alys = $540
Social security tax rate = 6.20%
Medicare tax rate = 1.45%
Social security taxes = Income earned × social security tax rate
Social security taxes = $540 × 6.20%
Social security taxes = $33.48
Medicare taxes = Income earned × Medicare tax rate
Medicare taxes = $540 × 1.45%
Medicare taxes = $7.83
Total FICA taxes = Social security taxes + Medicare taxes
Total FICA taxes = $33.48 + $7.83
Total FICA taxes = $41.31
The amount withheld from her weekly check for social security taxes is $33.48
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