Question

Roland Purcell, a technical writer, has a gross monthly income of $2,400. His earnings to date for this year are $24,000. How much is deducted this month for Social Security? How much for Medicare? ​

Answer 1

Answer: social security tax is 1488

Step-by-step explanation:

24000 X .062 = 1488

The social security tax must be taxed up to 97,500 not past so even though he didn't make 97,500 it still has to be taxed

Answer 2

Deduction for Social Security = $0

Deduction for Medicare = $348

Step-by-step explanation:

Given:

Annual income = $24,000

Find:

Deduction for Social Security

Deduction for Medicare

Computation:

Deduction for Social Security is 6.2 % over $84,900.

So,

Deduction for Social Security = $0

Deduction for Medicare is 1.45%

Deduction for Medicare = $24,000 × 1.45%

Deduction for Medicare = $348