Question

Quinton had a gross income of $2741.67 during each pay period in 2009. If he got paid monthly, how much of his pay was deducted for FICA in 2009?

A. $2516.85
B. $2187.85
C. $2039.80
D. $477.05

Answer 1

To calculate the FICA deduction for Quinton's monthly pay in 2009, we need to determine his annual income and then calculate the deductions for Social Security and Medicare. The FICA deduction comes out to be $2,513.25.

Step-by-step explanation:

To calculate the amount deducted for FICA, we need to determine the annual income. Since Quinton gets paid monthly, we can multiply his gross income by 12 to get his annual income:

2741.67 * 12 = $32,900.04

Next, we need to calculate the deductions for FICA. Social Security is 6.2% of the annual income and Medicare is 1.45% of the annual income:

Social Security deduction = 0.062 * 32900.04 = $2,036.20

Medicare deduction = 0.0145 * 32900.04 = $477.05

Therefore, the amount deducted for FICA in 2009 is $2,036.20 + $477.05 = $2,513.25