Question

Find the amount of Social Security deducted: $37890 annually.

Answer 1

the answer is 2,898.59

Answer 2

The current social security tax is 12.4% so the answer is $2349.18

Explanation:

Social security deduction is a federal tax imposed on employers, employees and self-employed individuals. Employers and employees both get the equal shares. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee and 12.4 % in total so the social security tax for $37890 is 4698.36 in total and $2349.18 on each party i.e employer and employee.