Bubba earned a total of $221,100 for 2017.How much FICA tax is his employer required to withhold from Bubba's paychecks for the year?

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Quizplus · Accepted Answer

For 2017, the FICA tax rate for employees was 6.2% for Social Security on the first $127,200 of earnings and 1.45% for Medicare on all earnings. Bubba earned $221,100, so the calculation is as follows: Social Security tax = $127,200 * 6.2% = $7,886.40. Medicare tax = $221,100 * 1.45% = $3,205.95. Total FICA tax = $7,886.40 + $3,205.95 = $11,092.35.

Bubba Earned a Total of $221,100 for 2017