Posted by Bonnie on Sunday, January 9, 2011 at 10:27pm.
Could someone tell me if I am correct on this question?
Laurie expects to make 100,000 in 2007.Her Social Security tax rate is 6.20% up to the wage base.Medicare is 1.45%.How much FICA is Laurie excepted to pay for the year?
$7,495.00 for my answer

Math  PsyDAG, Monday, January 10, 2011 at 11:57am
Since I don't know the wage base, it is hard to respond.
Multiply .062 by the wage base and .0145 by $100,000, then add these two products for your answer.
If this is what you have done, barring any math errors, your answer should be right.

Math  Bonnie, Monday, January 10, 2011 at 4:51pm
ThankYou.
The wage base is 97,500.
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