Find the total tax deductions for each of the following weekly paychecks.weekly pay $98.00,$240.00,$150.00 FICA (7.65%)
To find the total tax deductions for each of the given weekly paychecks, we need to calculate the FICA tax deduction for each paycheck.
FICA tax is calculated at a rate of 7.65%. To calculate the FICA tax deduction for each paycheck, we multiply the weekly pay by the FICA tax rate:
1. For the weekly pay of $98.00:
FICA tax deduction = $98.00 * 7.65% = $7.52 (rounded to two decimal places)
2. For the weekly pay of $240.00:
FICA tax deduction = $240.00 * 7.65% = $18.36 (rounded to two decimal places)
3. For the weekly pay of $150.00:
FICA tax deduction = $150.00 * 7.65% = $11.47 (rounded to two decimal places)
Therefore, the total tax deductions for each of the given weekly paychecks are as follows:
- Total tax deduction for the weekly pay of $98.00 = $7.52
- Total tax deduction for the weekly pay of $240.00 = $18.36
- Total tax deduction for the weekly pay of $150.00 = $11.47
To find the total tax deductions for each of the given weekly paychecks, we need to calculate the FICA tax (7.65%) for each paycheck.
FICA tax (7.65%) is a combination of Social Security tax (6.2%) and Medicare tax (1.45%).
Let's calculate the FICA tax for each paycheck:
1. Weekly Paycheck: $98.00
FICA tax = $98.00 * 7.65% = $7.51 (rounded to two decimal places)
2. Weekly Paycheck: $240.00
FICA tax = $240.00 * 7.65% = $18.36 (rounded to two decimal places)
3. Weekly Paycheck: $150.00
FICA tax = $150.00 * 7.65% = $11.47 (rounded to two decimal places)
Therefore, the total tax deductions for each weekly paycheck are as follows:
1. Weekly Paycheck: $98.00
Total Tax Deductions = $7.51
2. Weekly Paycheck: $240.00
Total Tax Deductions = $18.36
3. Weekly Paycheck: $150.00
Total Tax Deductions = $11.47
Please note that these calculations are based on the given FICA tax rate of 7.65%.
1. 7.50
2. 18.36
3. 11.48
Tax = 98 * 7.65%/100% = $7.50.
Tax = 240 * 7.65%/100% =
Tax = 150 * 7.65%/100% =