Question
An employee earned $46,600 during the year working for an employer when the maximum limit for Social Security was $132,900. The FICA tax rate for
An employee earned $46,600 during the year working for an employer when the maximum limit for Social Security was $132,900. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is:
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Accounting Principles A Business Perspective Financial Accounting Chapters 9 To 18
Authors: Bill Buxton, Amy Sibiga
1st Edition
1461160863, 978-1461160861
