Alexander received $80,000 in salary in 2015.What is his FICA tax if the Medicare rate is 1.45%,the Social Security rate is 6.2% on the 2015 maximum of $118,500,and the FUTA rate is 6% on a $7,000 maximum?
A) $4,960
B) $6,120
C) $6,540
D) $10,920
Correct Answer:
Verified
Q6: Which of the following nominal rates does
Q41: Which of these entities is taxed directly
Q46: Which of the following best describes vertical
Q47: Two married persons with moderately high incomes
Q52: What is an individual's maximum annual deduction
Q54: Which of these persons never pays taxes
Q62: Sara is single and has no dependents.What
Q67: Wilma and Barney are married and have
Q69: Current changes to the federal tax law
Q70: Ethan received $120,000 in salary in 2015.What
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents