Jacob Finney's filing status is single, and he has earned gross pay of $1,240. Each period he makes a 403(b) contribution of 8% of gross pay and makes a contribution of 0.80% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $127,600.

Social Security tax = $
Medicare tax = $

Answer rating: 100% (QA)

Social Security tax 62 of the taxable earnings 62 ... View the full answer