An employee earned 37000 during the year working for an, Ask an Expert

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An employee earned $37,000 during the year working for an employer when the maximum limit for Social Security was $117,000. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is:

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Financial Accounting, Accounting

Category:- Financial Accounting
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