what is the employers yearly contribution to the u.s. social security tax on a salary of $42,000?\nfica…

what is the employers yearly contribution to the u.s. social security tax on a salary of $42,000?\nfica taxes\nsocial security medicare\ntotal due: 12.40% 2.90%\nemployers responsibility 6.20% 1.45%\nemployees responsibility 6.20% 1.45%

what is the employers yearly contribution to the u.s. social security tax on a salary of $42,000?\nfica taxes\nsocial security medicare\ntotal due: 12.40% 2.90%\nemployers responsibility 6.20% 1.45%\nemployees responsibility 6.20% 1.45%

Answer

Explanation:

Step1: Identify the tax - rate

The employer's Social Security tax rate is 6.20% or 0.062 in decimal form.

Step2: Calculate the tax amount

Multiply the salary by the tax - rate. The salary is $42000. So the calculation is $42000\times0.062$. $42000\times0.062 = 2604$

Answer:

$2604$