Dr. Josef Young earns an adjusted gross weekly income of $2,456. How much Social Security tax should be withheld the first week of the year? How much Medicare tax should
be withheld? The Social Security tax rate is 6.2%
from earnings to be taxed to a maximum annual wage of $118,500. The Medicare tax rate is 1.45% from all earnings to a
maximum annual wage of $200,000.
The Social Security tax is S
(Type an integer or a decimal. Round to the nearest cent as needed.)
The Medicare tax is $
(Type an integer or a decimal. Round to the nearest cent as needed.)
