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Question 1 (1 point) Joe is self-employed and earns $180,000 per year. How much is Joes share of the payroll tax? $12,400 06
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Answer: option (D) none of the above

Social security withholding = 180000 x 0.62

= $ 11,160

Medicare withholding = 180000 x 0.0145 = $2610

Total = 11160+2610 =$13770

As there is no option none of the above is correct

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