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Avery’s annual gross income was $101,500. determine the total amount of fica taxes that will be deducted from her earnings.

User MokiTa
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The total amount of FICA taxes deducted from Avery's earnings is $7,773.75.

To determine the total amount of FICA taxes that will be deducted from Avery's earnings, we need to know the specific rate at which FICA taxes are applied. FICA taxes consist of Social Security tax and Medicare tax. The Social Security tax rate is 6.2% and the Medicare tax rate is 1.45%. Therefore, the total FICA tax rate is 6.2% + 1.45% = 7.65%.

To calculate the total FICA taxes deducted from Avery's earnings, we can multiply her annual gross income by the FICA tax rate:

Total FICA taxes = $101,500 × 7.65% = $7,773.75.

User K Mo
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