anonymous
  • anonymous
The limit in 2008 for FICA tax was 102,000. So if a business owner makes $108,000 in one year, how much in "continuing" medicare tax will they have to pay? (Medicare tax is 1.4% for individuals and 2.9% for the self-employed.)
Mathematics
katieb
  • katieb
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anonymous
  • anonymous
84.00 174.00 1,512.00 3,132.00 These are the answers
anonymous
  • anonymous
anonymous
  • anonymous
Do you know what equation to use?

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TheGaMer007
  • TheGaMer007
hmmm
anonymous
  • anonymous
I'm not sure what equation but I know it's for withholding
anonymous
  • anonymous
Income is 6000 over the FICA limit, so wouldn't the continuing amount be 2.9% of 6000?

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