Employee's RatesMatching Rates Paid by the EmployerSelf-Employed Rates. 7.65% on the first $118,500 of income 1.45% on
Fantastic news! We've Found the answer you've been seeking!
Question:
- 7.65% on the first $118,500 of income
- 1.45% on income above $118,500
- 7.65% on the first $118,500 paid in wages
- 1.45% on wages above $118,500
- 13.3% on the first $118,500 of net earnings
- 2.9% on earnings above $118,500
Suppose Malcolm has $87,800 of income from work and is self-employed. How much will Malcolm have to pay in FICA taxes?
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Posted Date: