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belka [17]
3 years ago
11

Sebastian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,940. Each period he makes a 401(k)

contribution of 14% of gross pay and contributes $120 to a dependent care flexible spending account. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $91,500.
Social Security tax = $

Medicare tax = $
Business
1 answer:
Artist 52 [7]3 years ago
4 0

Answer:

Social Security Tax = $ 244.28

Medicare tax = $ 57.13

Explanation:

Social Security Tax: $3,940 x 6.20% = $244.28

Medicare tax: $3,940 x 1.45% = $ 57.13

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