Question

Mahmet earned wages of $148,800 during 2022. Mahmet qualifies to file as head of household and claims two dependents under the age of 17. How much will Mahmet's employer withhold in social security taxes for the year?

Answer 1

Mahmet's employer will withhold $9,225.60 in Social Security taxes from his wages for the year 2022, based on the standard rate of 6.2%.

Step-by-step explanation:

The subject of the question involves calculating the amount of Social Security taxes withheld from an employee's wages. For Mahmet, who earned $148,800 during 2022, the calculation is based on the standard Social Security tax rate of 6.2% that is deducted from an employee's paycheck. Therefore, Mahmet's employer will withhold 6.2% of his earnings for Social Security taxes, which amounts to $148,800 x 0.062 = $9,225.60 for the year.