Question

an employee earned $44,200 working for an employer in the current year. the current rate for fica social security is 6.2% payable on earnings up to $132,900 maximum per year, and the rate for fica medicare 1.45%. the employer's total fica payroll tax for this employee is:

Answer 1

The employer's total fica payroll tax for this employee is $3,379.90.

Step-by-step explanation:

The employer's total fica payroll tax for this employee can be calculated by multiplying the employee's earnings by the respective FICA tax rates for Social Security and Medicare. For Social Security, the tax rate is 6.2% up to the maximum earnings limit of $132,900. For Medicare, the tax rate is 1.45% with no maximum limit.

To calculate the Social Security tax, multiply $44,200 by 0.062, which equals $2,738. To calculate the Medicare tax, multiply $44,200 by 0.0145, which equals $641.9. Adding these two amounts together gives a total FICA payroll tax of $3,379.90 for the employer.