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Molly Flynn, an accountant at Coor Company, earned $127,400 from January to June. In July, Molly earned $4,600. Assume a tax rate of 6.2% for
Molly Flynn, an accountant at Coor Company, earned $127,400 from January to June. In July, Molly earned $4,600. Assume a tax rate of 6.2% for Social Security on the first $128,400 and a Medicare rate of 1.45%. How much is the tax for Social Security and Medicare?
Social Security Tax: ?
Medicare Tax: ?
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