Question: Based on the module assignments and readings, please complete the following mastery assignment. You will be graded against the rubric provided. Part I Theory Questions:

Based on the module assignments and readings, please complete the following mastery assignment. You will be graded against the rubric provided. Part I Theory Questions: Using a minimum of a paragraph on each item, thoroughly answer the following: 1) Identify, for social security purposes, those persons covered under the law and those services that make up employment. 2) What are the current tax rates and wage base for FICA and SECA purposes? 3) Describe the different requirements and procedures for depositing FICA taxes and income taxes withheld from employees' wages. 4) How do different Social Security requirements affect your place of work or prospective career? Part II Calculation Problems: Note: For the following problems use the following rates, ceiling, and maximum taxes. Please show your work. Employee and Employer OASDI: 6.20% $147,000 $9,114.00 Employee* and Employer HI: 1.45% No limit No maximum Self-employed OASDI: 12.4% $147,000 $18,228.00 Self-employed HI: 2.9% No limit No maximum * Employee HI: Plus an additional 0.9% on wages over $200,00. Also applicable to be self employed. 6. Crow earned $600 during the week ended March 1, 20--. Prior to payday, Crow had cumulative gross earnings of $4,733.20. What is the amount of OASDI taxes to

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