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In 2022, Kwon Ah Bo is an employee at Sungsam Industries. Kwon is paid wages of $50,000 and is also a participant in the Sungsam
In 2022, Kwon Ah Bo is an employee at Sungsam Industries. Kwon is paid wages of $50,000 and is also a participant in the Sungsam 401(k) plan. Kwon contributes 6 percent of her salary to the 401(k) and Sungsam matches the first 3 percent of employee contributions.
Compute the amount of wages subject to
(i) income tax:
(ii) FICA taxes:
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