# 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?

1. 👍 0
2. 👎 0
3. 👁 77
1. 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

1. 👍 0
2. 👎 0
posted by drwls

## Similar Questions

1. ### 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?

asked by Tina on March 24, 2012
2. ### 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?

asked by Savanna on November 9, 2009
3. ### 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?

asked by sharon on January 9, 2010

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?

asked by Jessica on December 10, 2010
5. ### 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

asked by Akwaa Harrrison on May 19, 2011
6. ### Math

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?

asked by Bonnie on January 9, 2011
7. ### 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

asked by Anonymous on May 15, 2009
8. ### 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?

asked by jay. on February 2, 2010
9. ### 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?

asked by Marie on January 6, 2009
10. ### 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

asked by unknown on November 3, 2008

More Similar Questions