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calculate the social security and medicare tax that would be applied to an annual salary of $125,000. use $106,800 for maximum taxable earnings.
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Oct 5, 2017
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calculate the social security and medicare tax that would be applied to an annual salary of $125,000. use $106,800 for maximum taxable earnings.
Mathematics
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Rajagp
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Answer:
The answer is D on Edge
Explanation:
Rohit Khatri
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Oct 7, 2017
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Rohit Khatri
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Social security tax is 12.4% of maximum taxable earnings = 0.124 x 106,800 = $13,243.20
Medicare tax = 2.9% of earned income = 0.029 x 125,000 = $36,250
Shane Powell
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Oct 10, 2017
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