Please help me on this question

Question

Use the 2016 FICA tax​ rates, shown​ below, to answer the following question.

If a taxpayer is not​ self-employed and earns $167,000​, what are the​ taxpayer's FICA​ taxes?

Employee's Rates:

7.65% on first $118,500 of income

1.45% of income in excess of $118,500

Matching Rates Paid by the Employer:

7.65% on first $118,500 paid in wages

1.45% of wages paid in excess of $118,500

Self-Employed Rates:

15.3% on first $118,500 of net profits

2.9% of net profits in excess of $118,500

FICA taxes are $__

​(Type an integer or a decimal. Round to the nearest cent as​ needed.)

Answer 1

Well, look at what fica is first.

Fica is the employer's responsibility, but the employer splits the cost 50/50 with the employee. The person, according to the question isn't self employed, so you would use the employee's info and the employer's info. In this case, 7.65% of the first 118,500 and the rest of the employee's salary would be calculated at 1.45%. So, simply multiply 7.65% * 118,500 first and multiply the answer by 2 since both the employee and employer would put in 50%. Then subtract 118,500 from the employee's salary and multiply that answer by 1.45% and again, multiply the answer by 2. Add the two answers together, and voila, you have the answer.