Sonny Siebert earned $485,000 a year as a rookie pitcher for the Cleveland Indians. Assuming a tax rate of 6.2% for Social Secur
ity up to $118,500 and Medicare tax of 1.45%, how much did Sonny pay in FICA taxes as a rookie pitcher?
2 answers:
Answer:
14379.50
Step-by-step explanation:
If I remember correctly, the Medicare tax is taken on Gross Income. The question has already limited the base amount for Social Security.
<em><u>Social Security:</u></em> 118,500 * 6.2/100 = 7347
Medicare Tax: 485,000*1.45/100 = <u>7032.50</u> Add
Add 14379.50
Sonny paid 14370 in taxes for these 2 items.
Answer:
$14,379.50
Step-by-step explanation:
Given that:
- Sonny Siebert Income: $485,000
- Social Security tax rate: 6.2% up to $118,500
- Medicare tax of 1.45%
As we know that, the Federal Insurance Contributions Act (FICA) is made up of two items, Social Security and Medicare taxes.
So
Social Security tax: $118,500*6.2% = $7347
Medicare tax: $485,000*1.45% = $732.5
=> the amount of FICA taxes as a rookie pitcher she needs to pay is:
= $7347 + $732.5
= $14,379.50
You might be interested in
2 tens, and 8 ones. I say this because 20 = 10 + 10 so, two tens. 8= 1+1+1+1+1+1+1+1 so, eight ones.
Answer:
26 2/3 yards,
Step-by-step explanation:
First convert 3 1/3 to an improper fraction:
3 1/3 = (3*3 + 1) / 3 = 10 /3.
So for 8 quilts we need (10/3) * 8
= 80/3
= 26 2/3 yards,
It would cost $35.98
Hope this helps!
∠4 = 90 (verticallyopposite)
∠2 = 68 (verticallyopposite)
∠6 = ∠2 + ∠4 (exterior angles = sum of opposite angles)
∠6 = 68 + 90 = 158°
Answer: 158°
Answer:
472.2 km
Step-by-step explanation: