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David Alexander makes a 401(k) retirement plan contribution of 12% of gross pay. He is single, claims one withholding allowance for both federal and state
David Alexander makes a 401(k) retirement plan contribution of 12% of gross pay. He is single, claims one withholding allowance for both federal and state taxes, and his weekly gross pay was $4,050. His current year taxable earnings for FICA taxes, prior to the current pay period, are $198,450.
Please calculate the medicare tax for both 2021 and 2022.
Social Security Tax: $___
Medicare Tax: $___
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