how do i do this?

Question

Ken's prior cumulative gross earnings during 2017 were $34,222, and his gross earnings in one week were $1,133. What is the amount of that week's Social Security deduction? (Give your answer to the nearest cent.)

Answer 1

The Social Security tax rate is 12.4% The employer contributes one-half, and the employee contributes the other half. Therefore, the employee pays 6.2% of his/her gross earnings towards Social Security.

 

.062 * 1133 = 70.25 dollars