If the limit for Social Security is $113,700 and Medicare is applied to all earnings and George Rory's gross earnings this pay period are $7,300, with cumulative earnings prior to this pay period of $112,460, the taxable earnings for FICA taxes are

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George's cumulative earnings before this pay period are $112,460. Adding his current earnings of $7,300 gives $119,760. The Social Security limit is $113,700, so only $1,240 ($113,700 - $112,460) is taxable for Social Security. Medicare is applied to all earnings, so $7,300 is taxable for Medicare.

If the Limit for Social Security Is $113,700 and Medicare