What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,360.00, if she has already earned $48,560.00 this year? (Social security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.) $218.79 $226.44 $241.74 $257.04
What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,360.00, if she has already earned $48,560.00 this year? (Social security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.) $218.79 $226.44 $241.74 $257.04
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter14: Planning For Retirement
Section: Chapter Questions
Problem 4FPE
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