What is the amount of Medicare tax that needs to be deducted from an employees pay if they were hired after 4/1/86?

A 6.20

B 3.45

C 1.45

D 7.5

Question

Kelley

Business

27 September, 09:01

What is the amount of Medicare tax that needs to be deducted from an employees pay if they were hired after 4/1/86?

A 6.20

B 3.45

C 1.45

D 7.5

+1

Answers (1)

Know the Answer?

River Nguyen · Answer 1

(C) 1.45

Explanation:

FICA, the Federal Insurance Contributions Act (FICA) includes both Social Security and Medicare, which is the federal health insurance program for Americans who are 65 and above.

Wages up to $132,900 are taxed 6.2% since 2019 for Social Security, and wages with no limit are taxed at 1.45% for Medicare. The employer removes those amounts and forwards the total to the federal government.

What is the amount of Medicare tax that needs to be deducted from an employees pay if they were hired after 4/1/86?A 6.20B 3.45C 1.45D 7.5

What is the amount of Medicare tax that needs to be deducted from an employees pay if they were hired after 4/1/86?

A 6.20

B 3.45

C 1.45

D 7.5