Question
Ian earned $150,000 of salary as an employee in 2020. How much should his employer have withheld from his paycheck for FICA taxes (rounded to
Ian earned $150,000 of salary as an employee in 2020. How much should his employer have withheld from his paycheck for FICA taxes (rounded to the nearest whole dollar amount)? The cap amount of the social security taxes is $142,800 in 2020
| A. | $2,175 | |
| B. | $9,139 | |
| C. | $11,029 | |
| D. | $10,415 | |
| E. | $11,475 |
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College Accounting A Practical Approach Chapters 1-26
Authors: Jeffrey Slater
8th Edition
0130911429, 978-0130911421
