Marie earns $80,000 as a sales manager for Household Books. How much Social Security and medicare tax does Marie have to pay for 2018?

Question

Quizplus · Accepted Answer

In 2018, the Social Security tax rate was 6.2% on income up to $128,400, and the Medicare tax rate was 1.45% on all income. Marie's Social Security tax is $80,000 * 6.2% = $4,960, and her Medicare tax is $80,000 * 1.45% = $1,160. The total is $4,960 + $1,160 = $6,120.

Marie Earns $80,000 as a Sales Manager for Household Books