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? Matching Rates Paid by the Employer Employee's Rates Self-Employed Rates 7.65% on first $118,500 of income 7.65% on first $118,500 paid 15.3% on first $118,500 of net in wages profits 1.45% of income in excess 1.45% of wages paid in of $118,500 2.9% of net profits in excess of $118,500 excess of $118,500 ... FICA taxes are $ (Type an integer or a decimal. Round to the nearest cent as needed.)
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? Matching Rates Paid by the Employer Employee's Rates Self-Employed Rates 7.65% on first $118,500 of income 7.65% on first $118,500 paid 15.3% on first $118,500 of net in wages profits 1.45% of income in excess 1.45% of wages paid in of $118,500 2.9% of net profits in excess of $118,500 excess of $118,500 ... FICA taxes are $ (Type an integer or a decimal. Round to the nearest cent as needed.)
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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
Transcribed Image Text:Use the 2016 FICA tax rates, shown below, to answer the following question.
If a taxpayer is not self-employed and eams $136,000, what are the taxpayer's FICA taxes?
me
Matching Rates Paid by
the Employer
nts
Employee's Rates
Self-Employed Rates
7.65% on first $118,500 of
7.65% on first $118,500 paid
in wages
15.3% on first $118,500 of net
profits
income
1.45% of income in excess
1.45% of wages paid in
excess of $118,500
2.9% of net profits in excess
of $118,500
k
of $118,500
Contents
FICA taxes are $
(Type an integer or a decimal. Round to the nearest cent as needed.)
ach
Success
edia Library
Clear all
Chec
Get more help
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