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During 2019, Mike received a total of $150,000 in employee compensation from Apple, Inc. His compensation consisted of $125,000 in wages, $5,000 performance bonus, and

During 2019, Mike received a total of $150,000 in employee compensation from Apple, Inc. His compensation consisted of $125,000 in wages, $5,000 performance bonus, and $20,000 forgiveness of debt (assume Mike was solvent after the debt discharge).

What is his FICA tax liability on this income?

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For the year 2019 the FICA tax rate for Social Security is 62 on the first 132900 of wages ... blur-text-image

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