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Prior to the current period, Benjamin Rubinek, whose tax return filing status is single, had earnings subject to Medicare tax of $199,500. During the current
Prior to the current period, Benjamin Rubinek, whose tax return filing status is single, had earnings subject to Medicare tax of $199,500. During the current week, Benjamin has gross earnings of $2,900, and he requests that 7% of gross earnings be contributed to a 403(b) plan. Benjamin's employer will withhold $__________ in Additional Medicare Tax for this PERIOD.
Medicare is 1.45%
Once earners hit the earnings threshold, it is an additional .9% Medicare tax on all wages exceeding wage threshold.
EARNING FOR SINGLE THRESHOLD $2,00,000
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