An Employee Earned $128,500 Working for an Employer in the Current

question 18

Multiple Choice

An employee earned $128,500 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $118,500 maximum per year and the rate for FICA Medicare 1.45% of all earnings. The employer's total FICA payroll tax for this employee is:

• A)$9,210.25.
• B)$9,830.25.
• C)$8,950.50.
• D)$879.75.
• E)$0, since the FICA tax is only deducted from an employee's pay.

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Definitions:

Virtue

A trait or quality deemed to be morally good and thus is valued as a foundation of good moral being.

Temptation

A desire to engage in short-term urges for enjoyment that threatens long-term goals, relevant in marketing when consumers are enticed by products.

Myth

A traditional story, often involving supernatural beings or phenomena, that serves to explain a natural or social phenomenon.

Uncertainty Avoidance

A cultural dimension that describes the degree to which people in a society feel uncomfortable with ambiguity, uncertainty, and risk, influencing behaviors and practices.