Question

If your earned income for 2021 will be $84,686, Calculate what you will pay

in Social Security and Medicare taxes if Social Security is taxed at 6.2% at a
maximum taxable income of $142,800 and Medicare is taxed at 1.45%.

Answer 1

5250.53 social security, 1227.95 Medicare

Explanation:

84686x.062=5250.53 in social security

84686x.0145=1227.95 in Medicare