Business Math

What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,960.00, if she has already earned $42,560.00 this year? (Social security tax is 6.2% of gross wages up to $106,800. Medicare tax is 1.45% of all gross wages.)

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asked by Vic
  1. Compute Austin's total social security and Medicare taxes for the fourth quarter, if she is self-employed and earns $5,000.00 on a semimonthly basis. (For self-employed persons, social security tax is 12.4% of wages up to $106,800, and Medicare tax is 2.9% of all wages.)

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    posted by Vic
  2. Compute Austin's total social security and Medicare taxes for the fourth quarter, if she is self-employed and earns $5,000.00 on a semimonthly basis. (For self-employed persons, social security tax is 12.4% of wages up to $106,800, and Medicare tax is 2.9% of all wages.)
    a.
    $1,476.60
    b.
    $2,295.00
    c.
    $4,590.00
    d.
    $4,180.80

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    posted by Brenda
  3. $4,180.80

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    posted by Nhan

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