Use the 2021 FICA tax rates, shown, to answer the following question. If a taxpayer is not self-employed and earns $163,000, what are the taxpayer's FICA taxes? Matching Rates Paid by the Employer Employee's Rates 7.65% on first $142,800 of 7.65% on first $142,800 paid income in wages 1.45% of income in excess 1.45% of wages paid in of $142,800 excess of $142,800 The taxpayer's FICA taxes are $ Round to the nearest cent as needed.) Self-Employed Rates 15.3% on first $142,800 of net profits 2.9% of net profits in excess of $142,800

Use the 2021 FICA tax rates, shown, to answer the following question. If a taxpayer is not self-employed and earns $163,000, what are the taxpayer's FICA taxes? Matching Rates Paid by the Employer Employee's Rates 7.65% on first $142,800 of 7.65% on first $142,800 paid income in wages 1.45% of income in excess 1.45% of wages paid in of $142,800 excess of $142,800 The taxpayer's FICA taxes are $ Round to the nearest cent as needed.) Self-Employed Rates 15.3% on first $142,800 of net profits 2.9% of net profits in excess of $142,800

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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