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How much is Medicare for Steven for the year

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Reference no: EM132886255

Problem - In 2018, the Social Security percentage was 6.2% for the first $175,500 earned. The Medicare percentage was 1.45% of your entire income. If Melanie earned $330,000 for 2018 calculate what she paid in Social Security and Medicare Taxes.

Required -

a. What is his monthly income?

b. How much is Medicare for Steven for the year?

c. How much does Steven pay for Social Security in January?

d. In what month does Steven reach the MAXIMUM taxable income?

Reference no: EM132886255

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