13Use the 2016 FICA tax rates, shown below, to answer the following question. If a taxpayer is not self-employed and earns$136,000, What are the taxpayer's FICA taxes? Employee's Rates Matching Rates Paid by the Employer Self-Employed Rates7.65% on first $118,500 of income 1.45% of income in excess of $118,500 7.65% on first $118,500 paid in wages 1.45% of wages paid in excess of $118,500 15.3% on first $118,500 of net profits 2.9% of net profits in excess of $118,500 FICA taxes are $________.(Type an integer or a decimal. Round to the nearest cent as needed.)

If a taxpayer is not self-employed, thus: Taxpayer’s FICA taxes are given as: 7.65% of…

Answered: 13 Use the 2016 FICA tax rates, shown…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Use the 2016 FICA tax rates, shown below, to answer the following question.

If a taxpayer is not self-employed and earns$136,000, What are the taxpayer's FICA taxes?

Employee's Rates		Matching Rates Paid by the Employer		Self-Employed Rates
7.65% on first $118,500 of income 1.45% of income in excess of $118,500		7.65% on first $118,500 paid in wages 1.45% of wages paid in excess of $118,500		15.3% on first $118,500 of net profits 2.9% of net profits in excess of $118,500

FICA taxes are $________.

(Type an integer or a decimal. Round to the nearest cent as needed.)

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