An employee earned $50,000 during the year. FICA tax for social security is 6.2% and FICA tax
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An employee earned $50,000 during the year. FICA tax for social security is 6.2% and FICA tax for Medicare is 1.45%.
The employer’s share of FICA taxes is
a. Zero, since the employee’s pay exceeds the FICA limit.
b. Zero, since FICA is not an employer tax.
c. $3,100
d. $725
e. $3,825 AppendixLO1
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Related Book For
Financial Accounting Information For Decisions
ISBN: 9780073043753
4th Edition
Authors: John J. Wild
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