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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 -

    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 -

    The wage base is 97,500.

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