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. Assuming the FICA base amount is $118,500.
1. Compute how much will be withheld during the year for Coach Samson’s Social Security and Medicare..
2. What additional amount will the employer need to
contribute towards FICA taxes?
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