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  • 13-07-2022
  • Mathematics
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Suppose a graphic designer earns $52,000 and is not self-employed. How much will the designer have to pay in FICA taxes?

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abiolataiwo2015
abiolataiwo2015 abiolataiwo2015
  • 14-07-2022

The amount that the designer will have to pay in FICA taxes is:$3,978.

FICA taxes

FICA taxes comprises of:

Social Security tax= 6.2%

Medicare tax= 1.45%

Hence:

FICA taxes=($52,000×6.2%)+($52,000×1.45%)

FICA taxes=$3,224+$754

FICA Taxes=$3,978

Therefore the amount that the designer will have to pay in FICA taxes is:$3,978.

Learn more about FICA taxes here:https://brainly.com/question/1154643

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