Question

Determine the total annual FICA tax for an annual salary of $165,000.

a.
$901.41
b.
$9,014.10
c.
$1,262.25
d.
$12,622.50

Answer 1

6.2% * 165000= 10230
1.45%* 165000= 2392.5

add it up 10230+2392.5 = 12622.50 is how much they will pay

social security is taxed at 6.5 percent and medicare is taxed at 1.45 percent. this is standard. it will always be that number unless the government changes it.