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Mike Samson is a college football coach making a base salary of $644,400 a year ($53,700 per month). Employers are required to withhold a 6.2%
Mike Samson is a college football coach making a base salary of $644,400 a year ($53,700 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. Assuming the FICA base amount is $128,400.
1. Compute how much will be withheld during the year for Coach Samsons Social Security and Medicare. (Round your final answers to 2 decimal places.)
2. What matching amount will the employer need to contribute? (Round your final answer to 2 decimal places.)
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