Question

Everyone is required to pay social security taxes. Please find the statement that best describes how much each person pays.

1. I am self employed and don't have to pay social security taxes only income tax.

2. An individual pays 6.2% and your employer pays 6.2%, if self employed you pay a total of 12.4%

3. An individual pays 1.45% and your employer pays 1.45%, if self employed you pay a total of 2.9%

4. An individual pays $1200 per quarter in social security.