Question

Social Security is taxed at 6.2% up to $128,400. Medicare is taxed at 1.45%. How much

Social Security and Medicare tax should be collected from someone who earns $135,000?
$7,590.50
$9,450.35
$9,918.30
$10,817.25

Answer 1

$9918.30

Explanation:

The total tax is ...

6.2% × $128,400 + 1.45% × $135,000 = $7960.80 +1957.50

= $9,918.30