Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax), while employers paid another 6.2%. How much

Question

1 year ago

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will someone earning $56,000 a year pay towards social security out of their gross wages?

1 answer:

yaroslaw [1] · Answer 1 · 2023-12-03T06:22:16+03:00

The number of earnings towards social security should be $1,890.

According to the statement

We have to find that the security out of their gross wages.

So, For this purpose, we know that the

Gross pay refers to the amount used to calculate the wages of an employee or salary.

From the given information:

The employers in 2012 paid 4.2%.

The employer should paid 6.2%.

And, the earning should be $45,000.

Based on the above information, the calculation is as follows:

4.2% * 45,000

= $1,890

Therefore, we will conclude that the number of earnings towards social security should be $1,890.

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