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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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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