The total annual FICA tax for an annual salary of $165,000 would be 12622.50. So, option d is correct.
Income tax is a tax applied on individuals or entities concerning income or profit earned by them.
The categories are 6.2% as social security tax 1.45% as Medicare tax 0.9% as Medicare surtax for employees earning more than $200,000
Medicare Tax
6.2% x 165000
= 10230
Social Security Tax
= 1.45% x 165000
= 2392.5
Since 10230+2392.5 = 12622.50
Social security is taxed at 6.5 percent and medicare is taxed at 1.45 percent. it will always be that number unless the government changes it.
The categories are 6.2% as social security tax 1.45% as Medicare tax 0.9% as Medicare surtax for employees earning more than $200,000
As the income of the employee is less than $200000, so there will be no medical surtax.
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