Ask Question
21 May, 16:39

Calculate the Social Security and Medicare tax that would be applied to an annual salary of $56,010. a. Social Security tax: $347.26, Medicare tax: $81.22b. Social Security tax: $3,472.62, Medicare tax: $812.15c. Social Security tax: $662.16, Medicare tax: $81.22d. Social Security tax: $6,621.60, Medicare tax: $812.15

+2
Answers (1)
  1. 21 May, 20:33
    0
    As an employee, you are to shoulder 6.2% of your salary for the Social Security Tax, and 1.45% of your salary for the Medicare Tax. These are calculated below:

    Social Security Tax = $56,010 x 6.2% = $3472.62

    Medicare Tax = $56,010 x 1.45% = $812.15

    Among the choices, the correct answer is B.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Calculate the Social Security and Medicare tax that would be applied to an annual salary of $56,010. a. Social Security tax: $347.26, ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers