Brian Temple's cumulative earnings are $107,000,and his gross pay for the week is $5,300.If the FICA rates are: OASDI 6.2% on a limit of $106,800 and Medicare is 1.45%,what are his FICA-OASDI and FICA-Medicare taxes for the week?

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Quizplus · Accepted Answer

Since Brian Temple's cumulative earnings are $107,000, he has exceeded the OASDI limit of $106,800, meaning no OASDI tax is due for the week, hence $0 for FICA-OASDI. The Medicare tax has no earnings limit, so it is calculated as 1.45% of his gross pay for the week ($5,300), which equals $76.85 for FICA-Medicare.

Brian Temple's Cumulative Earnings Are $107,000,and His Gross Pay for the Week