Question

in 2009 Larry's gross pay was $275,800 in that year the maximum taxable for Social Security was 118500 and the Social Security was 62.2%.

Answer 1

Based on the maximum taxable amount for social security in 2009, and the social security tax rate, the social security tax that Larry paid was $7,347.

How much did Larry pay in social security taxes?

The total amount paid by Larry as Social security tax can be found as;

= Maximum amount allowable for social security tax x Social security tax rate

The social security tax rate was 6.2% not 62.2%.

The social security tax was therefore:

= 118,500 x 6.2%

= $7,347

Find out more on social security taxes at brainly.com/question/13255138

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