Use the 2016 FICA tax rates, shown below, to answer the following question. If a taxpayer is not self-employed and earns $139,000, 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 7.65% on first $118,500 paid 15.3% on first $118,500 of net in wages income profits 1.45% of income in excess of $118,500 1.45% of wages paid in excess of $118,500 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.)
Use the 2016 FICA tax rates, shown below, to answer the following question. If a taxpayer is not self-employed and earns $139,000, 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 7.65% on first $118,500 paid 15.3% on first $118,500 of net in wages income profits 1.45% of income in excess of $118,500 1.45% of wages paid in excess of $118,500 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.)
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 20Q: Use Figure 12.15 as a reference to answer the following questions. A. If an employee makes $1,400...
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Hi if I can get some help with fica taxes thanks
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