Page 1 of 1
Use the 2016 FICA tax rates, shown below, to answer the following question If a taxpayer is not self-employed and earns
Posted: Thu May 12, 2022 11:58 am
by answerhappygod
- Use The 2016 Fica Tax Rates Shown Below To Answer The Following Question If A Taxpayer Is Not Self Employed And Earns 1 (26.3 KiB) Viewed 24 times
Use the 2016 FICA tax rates, shown below, to answer the following question If a taxpayer is not self-employed and earns $132,000, what are the taxpayer's FICA taxes? Matching Rates Paid by Employee's Rates the Employer Self-Employed Rates 7.65% on first $118,500 of 7.65% on first $118,500 paid 15.3% on first $118,500 of net income in wages profits 1.45% of income in excess 1.45% of wages paid in 2.9% of net profits in excess of $118,500 excess of S118,500 of $118,500 FICA taxes are $ (Type an integer or a decimal. Round to the nearest cent as needed.)