Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $106,800 and a
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Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $106,800 and a Medicare tax rate of 1.45% is applied to all earnings. Calculate the Social Security and Medicare taxes for the followingsituations:
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Cumul. Pay Before Current Weckly Payroll Current Amount Over Max. Soc. Sec. Medicare Amount Subject to Soc. Sec. Gross Year-to-Date Soc. Sec. Soc. Sec. Tax Withheld Тах Earnings Withheld Pay Maximum $ 22,000 $1,200 $106,800 106,800 106,800 106,800 4,200 3,925 4,600 54,000 104,200 106,200
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