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1: Mortimer Klein earned gross pay of $1,340. Each period he makes a 401(k) contribution of 3% of gross pay. His current year taxable earnings
1: Mortimer Klein earned gross pay of $1,340. Each period he makes a 401(k) contribution of 3% of gross pay. His current year taxable earnings for Social Security tax, to date, are $184,600. Total Social Security tax = $ 2: Helena Smith earned gross pay of $2,000. She does not make any retirement plan contributions. Her current year taxable earnings for Social Security tax, to date, are $137,500. Total Social Security tax = $ X 3: Kasey Wolfe earned gross pay of $1,140. Each period he contributes 1.5% of gross pay to a flexible spending account. His current year taxable earnings for Social Security tax, to date, are $71,900. Total Social Security tax = $ x 4: Matthew Pugh earned gross pay of $840. Each period he designates 3% of gross pay for a dependent care flexible spending account. His current year taxable earnings for Social Security tax, to date, are $137,900. Total Social Security tax = $ x
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