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.)

Question

anonymous · Answer

84.00
174.00
1,512.00
3,132.00

These are the answers

anonymous · Answer

@TheGaMer007  @teagirl7630

anonymous · Answer

Do you know what equation to use?

thegamer007 · Answer

hmmm

anonymous · Answer

I'm not sure what equation but I know it's for withholding

anonymous · Answer

Income is 6000 over the FICA limit, so wouldn't the continuing amount be 2.9% of 6000?