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barxatty [35]
3 years ago
8

Let FICA tax rates be 7.65% on the first $127,200 of income from wages, and 1.45% on any income from wages in excess of $127,200

. Her FICA tax is?
Mathematics
1 answer:
malfutka [58]3 years ago
5 0

Answer:

The tax is split between employers and employees. They both pay 7.65% (6.2% for Social Security and 1.45% for Medicare) of their income to FICA, the combined contribution totaling 15.3%. The maximum taxable earnings for employees as of 2020 is $137,700.

<em>Correct </em><em>me </em><em>if</em><em> </em><em>you </em><em>want</em><em> </em><em>If </em><em>its </em><em>wrong</em>

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