Laura R.

asked • 10/26/20

how to find deductions

The Federal Insurance Contributions Act (FICA) requires that your employer deduct a total of 7.65 percent from your paycheck for Social Security and Medicare tax purposes. A Social Security rate of 6.2 percent is deducted on the first $90,000 you earn. A Medicare rate of 1.45 percent is deducted from all your earnings.




Michaela Jordan is a tax lawyer who earns $132,000 per year and

is paid at the end of every month. What is the combined amount withheld from her September paycheck for Social Security and Medicare?

1 Expert Answer

By:

Laura R.

Thank you!
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10/29/20

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