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5. Bill and Mary are married. Mega Corporation employs them both. In 2018, Mary earned $70,000...

5. Bill and Mary are married. Mega Corporation employs them both. In 2018, Mary earned $70,000 and Bill earned $135,000, in both cases W-2 wages.    

How much FICA tax were they required to pay for 2018?   

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Answer #1
Answer:
As per IRS, FICA tax is Charged at upto $128,400 at 7.65%
Mary FICA tax   =   $70,000 x 7.65%   = $5,355
Bill is Charged upto $128,400 = $128,400 x 7.65%
                                                            = $9,822.60
Total FICA tax payable for 2018 = $5,355 + $9,822.60
=   $15,177.60
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