Business, 06.01.2021 18:20 chaseashley24
Mike Samson is a college football coach making a base salary of $652,800 a year ($54,400 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assume the FICA base amount is $128,400.
Required:
a. Compute how much will be withheld during the year for Coach Samson's Social Security and Medicare.
b. What matching amount will the employer need to contribute?
Answers: 1
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Mike Samson is a college football coach making a base salary of $652,800 a year ($54,400 per month)....
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