Question

Quinton had a gross income of $2741.67 during each pay period in 2009. If he got paid monthly, how much of his pay was deducted for FICA in 2009?

Answer 1

$2516.85

Explanation:

a p e x

Answer 2

$2,516.85

Explanation:

Quinton had a monthly gross income of $2741.67.

He was paid yearly = $2741.67 × 12 = $32,900.04

FICA tax is social security tax (6.2%) and medicare tax (1.45%)

FICA tax rate = 6.2% + 1.45% = 7.65%

FICA tax deduction = 7.65% × 32,900.04

= 0.0765 × 32,900.04

= $2,516.85

His pay was deducted for FICA $2,516.85