Homework Answers
Your required answer is option B i.e. $10,710
Explanation:
The FICA tax Rate is the combination of Social Security rate i.e. 6.2% and the Medicare rate i.e. 1.45% so the total of both is called FICA tax rate i.e. 7.65%
FICA Tax of Trevor's = Salary X FICA Tax Rate
FICA Tax of Trevor's = $140,000 X 7.65%
FICA Tax of Trevor's = $10,710
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