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:

Process Goal

An objective focused on the ways in which something is to be accomplished, emphasizing the steps, strategies, or procedures.

Excluded

Being left out or denied participation in a group or activity, often leading to feelings of isolation or rejection.

Decision

A choice made after consideration of options and consequences in order to resolve a problem or achieve an outcome.

TRIP

A framework in conflict studies standing for Topic, Relational, Identity, and Process issues.