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23 August, 22:31

The Social Security Administration increased the taxable wage base from $106,800 to $110,100. The 6.2% tax rate is unchanged. Joe Burns earned over $120,000 each of the past two years.

a.

What is the percent increase in the base? (Round your answer to the nearest hundredth percent.)

Percent increase

%

b.

What is Joe's increase in Social Security tax for the new year? (Round your answerto the nearest cent.)

Increase in social security tax

$

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Answers (1)
  1. 24 August, 01:55
    0
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