Rasheed works for Company A, earning $299,000 in salary during 2019. Assuming he is single and has no other sources of income, what amount of FICA tax will Rasheed pay for the year

$13,466

Explanation:

For 2019, the wage limit for Social Security tax is $132900

Thus;

Social Security tax $132,900x 6.2% = $8,239.80

Medicare tax = $299,000 x 1.45% = $4335.50

Additional Medicare Tax ($299,000 - $200000) x 0.9% = $891

therefore,

Amount of FICA Tax = $8239.80 + $4335.50 + $891 = $13,466.30 which is approximately $13,466

you have to put the parentheses like this:

in fact, you have to perform the operation inside parentheses first, and then proceed in order:

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

arrowright

anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

arrowright

nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

arrowright