Question: Social Security rate - 6 . 2 % on the first $ 1 4 2 , 8 0 0 of gross earnings Medicare rate -

Social Security rate -6.2% on the first $142,800 of gross earnings
Medicare rate -1.45%
FUTA rate -0.6% on the first $7,000 of gross earnings
Don't forget, you must show ALL work/calculations to receive full credit! Also, be sure to round to two decimal places after EVERY calculation.
Question 6(24 points)
Bruce Miller's filing status is single, and he earned gross pay of $6,500. Each period he makes a 403(b) retirement contribution of 10% of gross pay and contributes $125 to a cafeteria plan. His current year taxable earnings for Social Security tax & Medicare tax, to date, are $159,025. Calculate his Social Security and Medicare taxable earnings AND his Social Security and Medicare taxes for the weekly pay period described.

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