1:2 = 3:6
The second number is double the first.
6% of $32,345 is $1,940.70, your decimal point is off by 1 place :)
The cost of aquiring the source is high, i believe
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.
