Answered: Kole earns $170,000 in 2023 in his job…

Kole earns $170,000 in 2023 in his job as a sales manager. What is his FICA tax? (Employee portion of Social Security and Medicare Tax) O $10,063 O $12.255 O $13,005 O $12,397

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16MC: An employee earns $8,000 in the first pay period. The FICA Social Security Tax rate is 6.2%, and the...

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Question

Kole earns $170,000 in 2023 in his job as a sales manager. What is his FICA tax? (Employee portion of
Social Security and Medicare Tax)
O $10,063
$12.255
O $13,005
O $12,397

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