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Find combined social security and Medicare taxes withheld for the pay period 1: Weekly salary: $650; earnings to date: $30,000.

A. $23
B. $35
C. $42.50
D. $65

User Alek Hurst
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1 Answer

4 votes

Final answer:

The combined Social Security and Medicare taxes withheld for a weekly salary of $650, using the rates of 6.2% and 1.45% respectively, is calculated to be $49.73. This amount is not listed in the provided options, suggesting there may be an error or missing information.

Step-by-step explanation:

To calculate the combined Social Security and Medicare taxes withheld for a weekly salary of $650, we need to use the given tax rates of 6.2% for Social Security and 1.45% for Medicare. Let's compute the deductions:

  • Social Security tax: $650 * 6.2% = $40.30
  • Medicare tax: $650 * 1.45% = $9.425

To find the total amount withheld for both taxes, we simply add the two amounts together:

$40.30 (Social Security) + $9.425 (Medicare) = $49.725

Therefore, the combined Social Security and Medicare taxes withheld for the weekly salary mentioned would be rounded to $49.73, which is not among the options provided. It appears there may have been an error in the options given, or additional information is required to determine if any other factors affect the withholding amounts.

User Vzm
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