Question

. Christian made $138,000 as a Physician Assistant. Social Security tax is to a maximum income of $128,400. The Medicare tax is 1.45% and the Social Security tax rate is 6.2%. How much did Christian pay in FICA taxes?

Answer 1

Total money made as a physician = $138,000

Medicare tax = 1.45% of $138,000

= 1.45/100 * $138,000 = $2001

security tax = 6.2 %of $138,000

= 6.2/100 * $138,000 = $8556

= $138,000 - ($2001 + $8556)

$138,000 - $10557

= $127,443 is paid by Christian in FICA taxes

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