Compute Darryl's total social security and Medicare taxes for the third quarter, if she is self-employed and earns $1,020.00 on a weekly basis.

Question

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For self-employed individuals, the Social Security tax rate is 12.4% and the Medicare tax rate is 2.9%, totaling 15.3%. Darryl's quarterly earnings are $1,020.00 * 13 weeks = $13,260.00. The total tax is 15.3% of $13,260.00, which equals $2,028.78.

Compute Darryl's Total Social Security and Medicare Taxes for the Third