Question

Ramona Porter's cumulative earnings (YTD) before this pay period were $28,900. Her gross pay for this week is $425.

1. What is the amount that she will have deducted from this paycheck for Social Security taxes?

2. What is the amount that she will have deducted from this paycheck for Medicare taxes?
SOCIAL SECURITY TAX RATE: 6.2% MEDICARE TAX RATE: 1.45% MAXIMUM TAXABLE SALARY: $110,100 Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of the payroll period) One Withholding Allowance $ 73.08 146.15 158.33 316.67 950.00 1,900.00 3,800.00 14.62 TABLE 1—WEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person, If the amount of wages (after If the amount of wages (after subtracting withholding The amount of income tax subtracting withholding allowances) is: to withhold is: allowances) is: Not over $41 $0 Not over $156 Over But not over- of excess over Over But not over- $41 - $209 $0.00 plus 10% -$41 $156 -$490 $209 -$721 $16.80 plus 15% -$209 $490 -$1,515 $721 - $1,688 $93.60 plus 25% -$721 $1,515 -$2,900 $1,688 -$3,477 $335.35 plus 28% -$1,688 $2,900 -$4,338 $3,477 - $7,510 $836.27 plus 33% -$3,477 $4,338 -$7,624 $7,510 $2,167.16 plus 35% -$7,510 $7,624 The amount of income tax to withhold is: $0 of excess over- $0.00 plus 10% -$156 $33.40 plus 15% -$490 $187.15 plus 25% - $1,515 $533.40 plus 28% - $2,900 $936.04 plus 33% -$4,338 $2,020.42 plus 35% -$7,624

Answer 1

1
Deduction for Social Security taxes	26.35	=425*6.2%
2
Deduction for Medicare taxes	6.16	=425*1.45%