An Employee Earned $37,000 During the Year Working for an Employer

question 35

Multiple Choice

An employee earned $37,000 during the year working for an employer when the maximum limit for Social Security was $117,000.The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%.The employee's annual FICA taxes amount is:

• A)$2,294.00.
• B)$536.50.
• C)$2,830.50.
• D)$1,757.50.
• E)$8,950.50.

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Definitions:

Self-Efficacy

The belief that one can master a situation and produce positive change.

Implementation Intentions

"Specific strategies for dealing with the challenges of making a life change."

Religious Participation

The act of engaging in activities associated with a religious community, such as attending services, prayer, or study, often reflecting a component of personal identity and beliefs.

Healthier Life

A way of living that incorporates habits and behaviors aimed at improving well-being and reducing the risk of disease.