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harkovskaia [24]
3 years ago
5

For each employee, you are required to pay 1.45% federal Medicare tax and 6.2% federal Social Security tax. If an

Business
1 answer:
Gekata [30.6K]3 years ago
8 0

Answer:

A) $1,912.50

Explanation:

Both the federal Medicare tax and federal social security taxes are calculated based gross pay.

The medicare tax will be

=1.45% of $25,000

= 1.45/100 x $25,000

=0.0145 x $25,000

=$362.5

Social security tax will be

=6.2/100 x $25,000

=0.062  x $25,000

=$1,550.00

Total taxes = $1550.00 + $362.50

=$1,912.50

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