Lynita has two jobs and earned $105,762 from her first job and $24,350 from her second job.How much total FICA taxes will Lynita have withheld from her wages from working two jobs? (Round your answer to 2 decimal places. )

A) $8,066.94.
B) $9,953.57.
C) $9,077.57.
D) $10,030.68.

Question

iyanni smith · Accepted Answer

Final Answer : B, Explanation :  FICA taxes include Social Security tax (6.2% on the first $160,200 of income for 2023) and Medicare tax (1.45% on all income). Lynita's total income is $130,112. Social Security tax is $8,067.94 (6.2% of $130,112) and Medicare tax is $1,886.63 (1.45% of $130,112), totaling $9,953.57.

Lynita has two jobs and earned $105,762 from her first job and $24,350 from her second job.How much total FICA taxes will Lynita have withheld from her wages from working two jobs? (Round your answer to 2 decimal places. )

A) $8,066.94.
B) $9,953.57.
C) $9,077.57.
D) $10,030.68.

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Learning Objectives

Related questions

Lynita has two jobs and earned $105,762 from her first job and $24,350 from her second job.How much total FICA taxes will Lynita have withheld from her wages from working two jobs? (Round your answer to 2 decimal places. ) A) $8,066.94.B) $9,953.57.C) $9,077.57.D) $10,030.68.

Definitions

Learning Objectives

Learning Objectives

Related questions

Lynita has two jobs and earned $105,762 from her first job and $24,350 from her second job.How much total FICA taxes will Lynita have withheld from her wages from working two jobs? (Round your answer to 2 decimal places. )

A) $8,066.94.
B) $9,953.57.
C) $9,077.57.
D) $10,030.68.