The FICA tax for Social Security Is 6.2% and the FICA tax for Medicare Is 1.45%. An

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The FICA tax for Social Security Is 6.2% and the FICA tax for Medicare Is 1.45%. An employee's share of both FICA taxes was $4,896.00.Given that this employee did not exceed the FICA earnings limitation, compute gross pay.
$37,454.40.
$64.000.00.
$337,655.17.
$78,967.74.
Zero, since the employee's pay did not exceed the FICA limit.
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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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