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MGF1107-14079 Spring 2020 (Section 2) Homework: HW #4 20 of 60 (43 complete) Score: 0 of 1 pt 8.2.21 Use the 2016 FICA tax rates,
MGF1107-14079 Spring 2020 (Section 2) Homework: HW #4 20 of 60 (43 complete) Score: 0 of 1 pt 8.2.21 Use the 2016 FICA tax rates, shown below, to answer the following question If a taxpayer is self-employed and earns $178.000, what are the taxpayer's FICA taxes? Matching Rates Paid by the Employee's Rates Employe Self-Employed Rates 7.65% on first $118 500 of 7.65% on first $118.500 paid 15 3% on first $118 500 of net income in wages profits 145% of income in excess 1 45% of wages pald in 2 996 of net profits in excess of $118.500 excess of $118.500 of $118.500 The FICA taxes are $ Type an integer or a decimal: Road to the nearest cent as needed
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