The Federal Insurance Contributions Act (FICA) is made up of
two items, Social Security and Medicare taxes. For 2016, the Social Security
tax rate is 6.2% on the first $118,500 wages paid. The Medicare tax rate is
1.45% on the first $200,000 and 2.35% above $200,000. Since the total earnings is
only $110,700 which is not yet taxable. So there is no taxable earnings yet.
Answer:
this is your answer look it once
Answer:
There are 2 adults (2x5) and 5 children (5x2).
Answer:
$112.80
Step-by-step explanation:
If he earns $0.235 per pack, and there are 480 packs, then our equation is:
0.235 x 480 = $112.80
