Nikki's salary is $209,950 in 2018. How much social security and Medicare taxes will be withheld from Nikki's salary for the year? (Round your answer to 2 decimal places.)
Fill in the blank(s) with the appropriate word(s).
$11,094.63
$7,960.80 social security + $3,044.28 Medicare + $89.55 additional Medicare.
Social security wage limit of $128,400 × 6.2% = $7,960.80. There is no wage limit for Medicare. $209,950 × 1.45% = $3,044.28. Additional tax on wages over $200,000 = $9,950 × 0.9% = $89.55.
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