Brief Exercise 8-5 Calculate FICA taxes (LO3)

Mike Samson is a college football coach making a base salary of $632,400 a year ($52,700 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assume Mike was employed throughout the year and the FICA base amount is $113,700.

1.

Compute how much will be withheld during the year for Coach Samsons Social Security and Medicare.

whaw will the amount of socail security be and how will i find it?

2.

What additional amount will the employer need to contribute towards FICA taxes?

what will be the additional amount and how will i find that ?