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Home Q & A Board Science-Related Homework Help Mathematics
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jadelga3 jadelga3
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A year ago
Social Security and Medicare

The required deduction for Social Security is 6.2% OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of $97,500 and 1.45% HI (Hospital Insurance, commonly known as "Medicare") for all earnings.


Refer to the Social Security and Medicare information. Employers are required to match the employee's deductions and send the total to the IRS. Compute the amount of money that would be sent to the IRS for an employee who earns $52,700 during the period of a year.
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Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
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gamblawcgamblawc
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