Question
Henry Bagel earned $46,200 during the year working for an employer when the maximum limit for Social Security was $118,500. The FICA tax rate for
Henry Bagel earned $46,200 during the year working for an employer when the maximum limit for Social Security was $118,500. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. Henry's annual FICA taxes amount is:
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College Accounting Ch 1-12
Authors: Dansby
5th Edition
0763834955, 978-0763834951
