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Mike Samson is a college football coach making a base salary of $652,800 a year ($54,400 per month). Employers are required to withhold a 6.2%
Mike Samson is a college football coach making a base salary of $652,800 a year ($54,400 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assume the FICA base amount is $128,400. 1. Compute how much will be withheld during the year for Coach Samson's Social Security and Medicare. (Round your final answer to the nearest whole dollar.) Social security Medicare 2. What matching amount will the employer need to contribute? (Round your final answer to the nearest whole dollar.) Employer's contribution
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