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Bubba earned a total of $221,100 for 2017. How much FICA tax is his employer required...

Bubba earned a total of $221,100 for 2017. How much FICA tax is his employer required to withhold from Bubba's paychecks for the year? Show Work

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Answer #1

FICA consist of two parts social security and medicare and when income exceeds $200,000 additional medicare tax also applies. Social security is 6.2% of wages up to $127,200

Total FICA is:

Particulars Taxable amount Rate Tax
Social security        127,200 6.20%     7,886.40
Medicare        221,100 1.45%     3,205.95
Additional medicare           21,100 0.90%        189.90
Total FICA taxes 11,282.25
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