Jordan, who is paid monthly, is single and claims 0 deductions. He earns $100,000 per year as a manager at a firm. Calculate the Social Security and Medicare taxes withheld from his earnings. Remember, the rate for Social Security Tax is 6.2% of his income up to $97,500. The rate for Medicare is 1.45% (no income cap).See p. 10 for the Federal Income Tax Table." Note: Even though these are not the rates for 2011, they should remain in order to maintain consistency with the course material that is based upon 2007 rates. See Federal Tax Table Below

Table 4 - Monthly Payroll Period (a) SINGLE person (including head of household) - If the amount of wages(after subtracting withholding allowances) is: The amount of income tax to withhold is: $0 Of excess Over But no over over $221.00 $867.00 $2,950.00 $7,025.00 $14,467.00 $31,250.00 $867.00 $2,950.00 $7,025.00 $14,467.00 $31,250.00 10% $64.60 plus 15% $377.05 plus 25% $1,395.80 plus 28% $3,479.56 plus 33% $9,017.95 plus 35% $221.00 $867.00 $2,950.00 $7,025.00 $14,467.00 $31,250.00 (b) Married person - If the amount of wages(after subtracting withholding allowances) is: The amount of income tax to withhold is: $0 Not over $667.00 Of excess over Over But no over $667.00 $1,996.00 $6,304.00 $12,067.00 $18,050.00 $31,725.00 $1,996.00 $6,304.00 $12,067.00 $18,050.00 $31,725.00 10% $132.90 plus 15% $779.10 plus 25% $2,219.85 plus 28% $3,895.09 plus 33% $8,407.84 plus 35% $667.00 $1,996.00 $6,304.00 $12,067.00 $18,050.00 $31,725.00