Question: answer both questions The required deduction for Social Security is 6.2% OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of
The required deduction for Social Security is 6.2% OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of $117,000 and 1.45% HI (Hospital Insurance, commonly known as "Medicare") for all earnings. Refer to the Social Security and Medicre information. Employers are required to match the employee's deductions and send the total to the IRS. Compute the maximum percent that can be sent to the IRS for any one employee during the period of a year. Answer Question 2 Not yet answered Marked out of 2 P Flag question Social Security and Medicare The required deduction for Social Security is 6.2% OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of $117,000 and 1.45% HI (Hospital Insurance, commonly known as "Medicare") for all earnings. Refer to the Social Security and Medicare information Beverly McCoy earns a monthly salary of $4,950. Compute the amount deducted for social security from McCoy's December paycheck
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