Question

Arturo earned a 27,500 salary as an employee in 2019. how much should his employer have...

Arturo earned a 27,500 salary as an employee in 2019. how much should his employer have withheld from his paycheck (employee portion) for FICA taxes
rounded to the nearest whole dollar amount?
A. 4208
B. 4055
C. 2104
D. 1951
E. 1705
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Answer #1

Ans:Option:C. 2104 is Correct Answer

Tax rate for FICA social security tax for the year 2019 is 6.2% and the taxable wage base is $132,900.

Therefore,

FICA social security tax withheld = $27,500 x 6.2% = $1705

Tax rate for FICA medicare tax for the year 2019 is 1.45% with no wage base.

Therefore,

FICA medicare tax withheld = $27500 x 1.45% = $398.75

Thus,

Total FICA taxes withheld = $1705 + $398.75 = $2103.75=$2104 (Nearest whole Dollar)

Hope This Helped ! Let Me Know In Case of Any Queries.

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