Question
For Questions 12 13, find the FICA and Medicare tax for each of the following self-employed people. Assume that none of them has earned over
For Questions 12 13, find the FICA and Medicare tax for each of the following self-employed people. Assume that none of them has earned over $127,200 for the year. Use a FICA rate of 12.4% and a Medicare rate of 2.9%.
Lois Steem is a self-employed assertiveness training coach. Her adjusted income is $19,500 for the first quarter.
FICA tax ________________________ Medicare tax ________________________
The employees of the Hadley-Newham Funeral Home paid a total of $678.15 in Social Security tax, $158.60 in Medicare, and $21858 in federal withholding. Find the total amount the company should send the IRS.
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