Brooke, a single taxpayer, works for Company A for all of 2020, earning a salary of $50,000.

Question:

a. What is her FICA tax obligation for the year?

b. Assume Brooke works for Company A for half of 2020, earning $50,000 in salary and she works for Company B for the second half of 2020, earning $90,000 in salary. What is Brooke’s FICA tax obligation for the year?

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Related Book For answer-question

Taxation Of Individuals And Business Entities 2021

ISBN: 9781260247138

12th Edition

Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham

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Question Posted: Dec 28, 2020 03:08 AM

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Brooke, a single taxpayer, works for Company A for all of 2020, earning a salary of $50,000.

Question:

Step by Step Answer:

a 3825 Because Brookes salary is below the 137700 Social Security wage base limit for 2020 she pays ...View the full answer

Taxation Of Individuals And Business Entities 2021

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