Carlos earned a total of $225,000 for 2018. How much in FICA tax will his employer...
Carlos earned a total of $225,000 for 2018. How much in FICA tax will his employer be required to withhold in his name?
Homework Answers
| Social Security tax | 7960.80 | =128400*6.2% |
| Medicare tax | 3262.50 | =225000*1.45% |
| Additional Medicare tax | 225.00 | =(225000-200000)*0.9% |
| FICA tax to be withheld | 11448.30 |
| The 2018 wage limit for Social Security taxes is $128400 |
| Additional Medicare tax is payable for wages above $200000 |
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Carlos earned a total of $225,000 for 2018. How much in FICA tax will his employer...
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