Question

In a year when the maximum income for social security was $118,500, bart worked at two jobs. in one job he earned $99,112. in his second job, he earned $56,222. both of his employers took out social security tax. as a result, bart had paid excess social security tax, and the government must return some of it to him. how much does the government owe him for excess social security paid? social security is 6.2%

Answer 1

refund

Explanation:

106,800 so we're gonna figure out how much he overpaid and how much the government must return to him. So where we're gonna do this is I'm gonna figure out how much so security each employer took out and how much the maximum waas and find the difference. So the maximum amount he should have paid, I'm gonna find by multiplying that 6621 and 60 cents. That's the maximum Bart should have paid in. So security, anything he paid over that he should get back. So now, to figure out how much his first job paid you basically the same thing I do. 0.62 times 9 9812 When I do that, I come up with 6144 0.94 And I did the same thing for the second job. 0.62 times 56,000 222. And that gives me 3000 485 0.76 So then, to file the difference, I can take the cat that he should have paid 9.10. So that's how much bar overpaid for so security and how much the government would have to refund him. ist now up to you