Question

According to this partial W-2 form, how much money was paid in FICA taxes? Use the partial sample of a W-2 form to answer a question. $823.73 $4345.89 $6817.08 $11,162.97

Answer 1

Answer:

According to this partial W-2 the amount of money  paid in FICA taxes is $1924.48  i.e. option B.

Step-by-step explanation:

Answer 2

Answer:

The total of the social security tax plus the Medicare programme makes up the Federal Insurance Contribution Act (FICA) tax, which is $2374.56 for a partial W-2.

The FICA tax must ascertain.

Step-by-step explanation:

Step 1: Any gross income that is used to determine how much tax you owe is referred to as taxable income. It is simply your adjusted gross income less any deductions, to put it simply. Included in this are any pay, tips, salaries, and bonuses received from employers.

Step 2: The estimated taxable income for Ms. Wilson is 36,201.

Your taxable income is your gross income less all allowable deductions. Before utilising any available tax credits, estimate how much tax you'll owe by comparing that sum to your tax rate.

Step 3: The Social Security and Medicare programmes' taxes are combined to form the Federal Insurance Contribution Act (FICA) levy.

The social security tax in the provided problem is $1924.48.

$450.08 is the medicare programme tax.

As of right now, the social security tax and the Medicare programme are combined under the Federal Insurance Contribution Act (FICA) levies. Thus,

$\mathrm{FICA}=1924.48+450.08$

$\mathrm{FICA}=2374.56$

Thus for the partial W-2 the Federal insurance contribution act (FICA) taxes is $2374.56.

Learn more about similar questions visit:

https://brainly.in/question/2513527?referrer=searchResults

https://brainly.in/question/50005525?referrer=searchResults

#SPJ3