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

question 192

Multiple Choice

An employee earned $37,000 during the year working for an employer when the maximum limit for Social Security was $128,400.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:

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society.

Cis

Short for "cisgender," describing individuals whose gender identity matches the sex they were assigned at birth.

Trans

A term used to describe individuals whose gender identity differs from the sex they were assigned at birth.

Cisgender

A term for individuals whose gender identity matches the sex they were assigned at birth.