# Math

posted by .

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 expected to pay for the year?

• Math -

What was the FICA wage base in 2007?

OK I looked it up. It was \$97,500

Take 6.4% of 97,500 (the 2007 wage base) and add 1.45% of \$100,000 (the actual income). There is no "wage base" for the Medicare deduction.

Yikes. Makes me glad I'm retired

## Similar Questions

1. ### rpost

Laura is selfemployed and expects to make \$96,000 her social security tax is 12.4% up to the wage base, medicare is 2.9% and her estimated federal tax rate is 25% what is Lauras expected tax payment for the fourth quarter. would it …
2. ### Math

Laurie is self employed and expects to make \$96,000. She expects to pay 12.4%, 2.9%, and 25% in taxes. What is Laurie's expected tax payment for the fourth quarter?
3. ### ACCOUNTING

Laurie is self-employed and expects to make \$96,000 in 2007. Her social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and her estimated federal income tax rate is 25%. What is Laurie’s expected tax payment for …
4. ### math

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 expected to pay for the year?
5. ### math

laurie expects to make \$100,000 in 2007. her social security tax rate is 6.20% up to wage base, medicare is 1.45%. how much FICA is laurie expected to pay for the year?
6. ### math

Laurie expects to make \$100,000 in 2007. Her social security tax is 6.20% up to the wage base, Medicare is 1.45%. How much FICA is Laurie expected to pay for the year?