Fidicuary Investments paid its employee, Yolanda, wages of $137,000 in 2018. Calcu-late the FICA tax:Withheld from Yolanda’s wages:                                                      Social Security $______________                                                              Medicare $______________Paid by Fiduciary:                          Social Security $______________                                                              Medicare $______________ Total FICA  Tax:                                                    $$______________

Asked Nov 11, 2019

Fidicuary Investments paid its employee, Yolanda, wages of $137,000 in 2018. Calcu-late the FICA tax:

Withheld from Yolanda’s wages:

                                                      Social Security $______________

                                                              Medicare $______________

Paid by Fiduciary:                          Social Security $______________

                                                              Medicare $______________


Total FICA  Tax:                                                    $$______________


Expert Answer

Step 1

FICA taxes: FICA is called federal insurance contributions act which consists two types of taxes. Those are social security tax and Medicare taxes. The t...

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