18.0k views
5 votes
According to this partial w-2, how much money was paid in FICA taxes?

A) $4274.66
B) $2574. 23
C) $2086.30
D) $487.93

According to this partial w-2, how much money was paid in FICA taxes? A) $4274.66 B-example-1
User Greggy
by
5.9k points

1 Answer

3 votes

Answer:

option (B) is correct.

The amount of money that was paid in FICA taxes is $2574.93

Explanation:

Given : A partial w-2 table.

We have to calculate the amount of money that was paid in FICA taxes.

FICA taxes includes social security tax and medicare taxes.

Thus, the amount of money that was paid in FICA tax is equal to the sum of social security and medicare tax.

According to given table,

Social security taxes = $ 2086.30

And Medicare tax = $ 487.93

Thus, FICA tax = $(2086.30 + 487.93)

FICA tax = $ 2574.23.

Thus, the amount of money that was paid in FICA taxes is $2574.93

Therefore, option (B) is correct.

User Diego Moreira
by
5.8k points