Q:

Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax), while employers paid another 6.2%. How much will someone earning $45,000 a year pay towards social security out of their gross wages?

Accepted Solution

A:
Answer:The answer is $1890.Step-by-step explanation:Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax)While employers paid another 6.2%. So, someone earning $45000, will pay [tex]0.042\times45000=1890[/tex] dollars in FICA.The question says only individual. The earnings are exclusive to employees, so they will only pay from earnings. The employer will not pay from employee's earnings.The answer is $1890.