Ed had a gross income of $3255.29 during each pay period in 2010. If he got paid monthly, how much of his pay was deducted for FICA in 2010?

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asked Nov 10, 2018 8.0k views

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AshokGK · Answer 1 · 2018-11-14T14:43:50+0000

A FICA (Federal Insurance Contributions Act) obligates the citizens to pay 6.2% for Social Security and 1.45% for Medicare tax. Given that Ed had a monthly gross income of $3255.29, his yearly gross income is $39,063.48. The total tax deducted from his income is 7.65%. This is equivalent to $2988.36.

Ed had a gross income of $3255.29 during each pay period in 2010. If he got paid monthly, how much of his pay was deducted for FICA in 2010?

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