Hera earned a $175,000 salary in 2019.Her husband, Zeus, earned $100,000 salary in 2019.Hera and Zeus file a joint tax return.How much in FICA taxes will they owe in 2019?

Question

Quizplus · Accepted Answer

FICA taxes consist of Social Security tax (6.2%) and Medicare tax (1.45%) on earnings up to certain limits. In 2019, the Social Security tax was only applied on the first $132,900 of income, while the Medicare tax had no income limit.

For Hera, the Social Security tax would be 6.2% * $132,900 = $8,255.80 and the Medicare tax would be 1.45% * $175,000 = $2,537.50, for a total of $10,793.30.

For Zeus, the Social Security tax would be 6.2% * $100,000 = $6,200 and the Medicare tax would be 1.45% * $100,000 = $1,450, for a total of $7,650.

Together, their FICA taxes would be $10,793.30 + $7,650 = $18,443.30, which is closest to answer choice B, $18,652.

Hera Earned a $175,000 Salary in 2019