Ask Question
BusinessBusiness
10 July, 12:51

Compute the fica taxes and the employer's fica taxes

+3
Answers (1)
  1. 10 July, 13:02
    0
    Employers and employees split the tax. For both of them, the current Social Security and Medicare tax rates are 6.2% and 1.45%, respectively. So each party pays 7.65% of their income, for a total FICA contribution of 15.3%. To calculate your FICA tax burden, you can multiply your gross pay by 7.65%.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Compute the fica taxes and the employer's fica taxes ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Some contracts allow employees to refuse more than a specified number of overtime hours per week. True or False
Answers (1)
A foundry produces circular utility access hatches (manhole covers). currently, 120 covers are produced in a 10-hour shift. if labor productivity can be increased by 20%, it would then be:
Answers (1)
Yocum Company purchased equipment on January 1 at a list price of $120,000 and received a $2,400 cash discount. Yocum paid $6,000 sales tax on the equipment, and paid installation charges of $1,760.
Answers (1)
Between 2015 and 2016, the country of West Fredonia experienced a growth rate of - 2.6%. If nominal GDP had increased by 3.5% and the population growth was recorded as 0.6%, then calculate the annual inflation rate in West Fredonia.
Answers (1)
Developers of 25 or more lots must provide buyers with which document before signing the sale contract?
Answers (1)
New Questions in Business
has sales of $15 million, total assets of $9 million, and total debt of $3.7 million. If the profit margin is 7 percent what is net income? What is ROE? What is ROA?
Answers (1)
The overall variability of a firm's returns depends on the expected return of each individual project, percentage of funds invested in each individual project, and correlation coefficient of returns between the investments.
Answers (1)
Luca writes a daily blog about why people should eat healthy foods and ways to eat healthfully. What are the purposes of his blog? to entertain and advertise to advertise and inform to argue and inform to argue and entertain
Answers (1)
Billy accepted a job at a company that specializes in providing money for short-term retail lending. where did he go to work?
Answers (1)
If using a thermometer that cannot be calibrated by cold or boiling methods, food handlers should check with whom to make sure the thermometer are calibrated correctly?
Answers (1)
Home » Business » Compute the fica taxes and the employer's fica taxes
Sign Up Forgot Password?