How would I solve this? Please help! http://prntscr.com/cy0rkk

Question

jhonyy9 · Answer

you need to know the percent value of this social security tax

mathmale · Answer

R-R:  Don't you have tables that show the %-age deducted at different income levels?

riff-raff · Answer

No... this is the whole question. No graphs, or tables..

mathmale · Answer

In that case it looks as tho' you're going to have to do some research and find out what percentage of one's income is deducted for social security.  Why not look up "social security payroll deductions?"

riff-raff · Answer

"The Federal Insurance Contributions Act (FICA) is the federal law that requires you to withhold three separate taxes from the wages you pay your employees. FICA is comprised of: a 6.2 percent Social Security tax; a 1.45 percent Medicare tax (the “regular” Medicare tax); " This is what I found

mathmale · Answer

Good!!!  Now try taking 6.2 percent of $4513 in monthly earnings.  Then 

add 1.45 percent to 6.2 percent and multiply $4513 by this new percentage.

will.h · Answer

Mathmale nailed it I don't even have to say anything else lol

mathmale · Answer

Thanks, Will.H!

riff-raff · Answer

6.2% of 4513 = 279 then what do I do?