Question

calculate the social security and medicare tax that would be applied to an annual salary of $56,010.a.social security tax: $347.26, medicare tax: $81.22b.social security tax: $3,472.62, medicare tax: $812.15c.social security tax: $662.16, medicare tax: $81.22d.social security tax: $6,621.60, medicare tax: $812.15

Answer 1

the answer is B. social security tax: $3,472.62, medicare tax: $812.15

Answer 2

Given:
Annual salary: 56,010
Social Security tax rate: 6.2%
Medicare tax rate: 1.45%

Both these taxes are computed based on the annual salary.

Social Security tax:
56,010 x 6.2% = 3,472.62

Medicare Tax:
56,010 x 1.45% = 812.145 or 812.15

Total taxes paid:
3,472.62 + 812.15 = 4,284.77