Question
1: Mortimer Klein earned gross pay of $1,290. Each period he makes a 401(k) contribution of 4% of gross pay. His current year taxable earnings
1: Mortimer Klein earned gross pay of $1,290. Each period he makes a 401(k) contribution of 4% of gross pay. His current year taxable earnings for Social Security tax, to date, are $195,700. Total Social Security tax = $
2: Helena Smith earned gross pay of $2,200. She does not make any retirement plan contributions. Her current year taxable earnings for Social Security tax, to date, are $137,600. Total Social Security tax = $
3: Kasey Wolfe earned gross pay of $1,190. Each period he contributes 3% of gross pay to a flexible spending account. His current year taxable earnings for Social Security tax, to date, are $116,700. Total Social Security tax = $
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