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The Social Security tax is 6.2 and the Medicare tax is 1.45 of your annual income. How much would you pay per year to FICA if your annual earnings were 47000?
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Where do you find the annual earnings per share?
You can fin some earing to share at the mall or walmart
Is retirement money taxable?
Social Security is only taxed if you have other income as well. If you have direct deposit, your Medicare part B will be removed for you. All other retirement is taxed depending on the amount of your total income. Have you taxes done early, by SSAdministration, no charge, and many seniors organizations offer free return preparation for seniors or disabled people. Ask around,and be prepared to go as soon as your annual income statements all show up.
You deposit 200 per year in a bank account that offers an annual interest rate of 6. After five years your total earnings in interest are?
$48.76 ;)
In You deposit 200 per year in a bank account that offers an annual interest rate of 6. After five years your total earnings in interest are?
697.53 for A+
Where is the best and free website to find a company's annual revenue?
The NYSE has access to publicly traded companies, and the same companies will often put their annual earnings reports on their respective web sites. A privately held company does not have to disclose its financial reports to the public.
What is present annual cap on social security earnings?
300000
The Social Security tax is 6 2 percent and the Medicare tax is 1 45 percent of your annual income How much would you pay per year to FICA if your annual earnings were 47000?
47000 times 7.65 % the amount of FICA would be 3595.50.
The Social Security tax is 6.2 percent and the Medicare tax is 1.45 percent of your annual income How much would you pay per year to FICA if your annual earnings were 47000?
For Social Security tax, you would pay 6.2% of $47,000, which is $2,914 annually. For Medicare tax, you would pay 1.45% of $47,000, which is $682.50 annually. In total, you would pay $2,914 + $682.50 = $3,596.50 per year to FICA.
Do draws from a 401K count against the annual earnings cap for Social Security benefits below full retirement age?
No, draws from a 401(k) do not count towards the annual earnings cap for Social Security benefits before reaching full retirement age. Only earned income from work or self-employment is considered in determining whether Social Security benefits are subject to the earnings limit.
Do W2's provide us with the amount of earnings paid out for Social Security and unemployment benefits?
Yes. The earnings paid toward Social Security and Medicare (FICA) is shown in boxes 4 and 6 on the right side of your W2. Box 4 says "Social Security Tax Withheld"; box 6 says "Medicare Tax Withheld." FICA is withheld at a flat rate of 7.65% of the first $106,800 of gross annual wages, and is matched dollar-for-dollar by your employer, for a total of 15.3% of your income. Part of your contribution (6.2%) goes toward Social Security, and part (1.45%) toward Medicare Part A (hospitalization) insurance. Your employer contributes to your state's Unemployment Insurance. The percentage varies and is shown on the employers' taxes, not the employees'.
Are employer contributions to medicare limited on an annual basis?
No. There is no cap on the amount of medicare taxes that are paid by the employer on the employees gross earnings during the year
What kind of job makes 50000?
Millwrights Annual average earnings: $50,040*Mechanical engineering technicians Annual average earnings: $50,070Industrial engineering technicians Annual average earnings: $50,130Vocational education teachers, middle school Annual average earnings: $50,150Food service managers Annual average earnings: $50,400Vocational education teachers, postsecondary Annual average earnings: $51,020Dietitians and nutritionists Annual average earnings: $51,540Pile-driver operators Annual average earnings: $51,650Aircraft mechanics and service technicians Annual average earnings: $51,960Court reporters Annual average earnings: $52,150Chemical plant and system operators Annual average earnings: $52,160Construction and building inspectors Annual average earnings: $52,240Elementary school teachers, except special education Annual average earnings: $52,550Lodging managers Annual average earnings: $52,570Middle school teachers, except special and vocational education Annual average earnings: $52,650Police and sheriff's patrol officers Annual average earnings: $52,950Forensic science technicians Annual average earnings: $52,970Special education teachers, preschool, kindergarten, and elementary school Annual average earnings: $53,090Tax examiners, collectors, and revenue agents Annual average earnings: $53,100Boilermakers Annual average earnings: $53,110Sound engineering technicians Annual average earnings: $53,150Respiratory therapists Annual average earnings: $53,170Advertising sales agents Annual average earnings: $53,230Radiologic technologists and technicians Annual average earnings: $53,410Appraisers and assessors of real estate Annual average earnings: $53,460Educational, vocational, and school counselors Annual average earnings: $53,540Vocational education teachers, secondary school Annual average earnings: $53,760Employment, recruitment, and placement specialists Annual average earnings: $53,960Insurance appraisers, auto damage Annual average earnings: $53,990Electrical and electronic engineering technicians Annual average earnings: $54,050Medical and clinical laboratory technologists Annual average earnings: $54,120Real estate sales agents Annual average earnings: $54,700Librarians Annual average earnings: $54,750Training and development specialists Annual average earnings: $54,840Music directors and composers Annual average earnings: $54,840Special education teachers, secondary school Annual average earnings: $55,140Surveyors Annual average earnings: $56,030Property, real estate, and community association managers Annual average earnings: $56,280Aerospace engineering and operations technicians Annual average earnings: $56,560Engineering technicians, except drafters, all other Annual average earnings: $56,660Legal support workers Annual average earnings: $57,060Compensation, benefits, and job analysis specialists Annual average earnings: $57,080Editors Annual average earnings: $57,300Claims adjusters, examiners, and investigators Annual average earnings: $57,630Funeral directors Annual average earnings: $58,820Public relations specialists Annual average earnings: $59,030Sales representatives, services Annual average earnings: $59,150Transportation inspectors Annual average earnings: $59,650Arbitrators, mediators, and conciliators Annual average earnings: $59,780Instructional coordinators Annual average earnings: $59,830
What is the cost of federal government entitlement programs?
From the data that I have seen, the cost of entitlements (i.e. Social Security, Medicare, Medicade) make up about 50% of the annual budget of $3 Trillion
What is FICA tax?
under the fedaral insurance contributions act 12.4% of income up tto an annual limit must be paid into social security and a additional 2.9% must be paidd into medicare
What is the maximum you can earn in 2010?
For the social security benefits earnings test amount. The retirement earnings test exempt amount when you are under your NRA (normal retirement age) the annual exempt amount in 2010 is $14,160More information is available at the enclosed website address ssa.gov/
How much social security do you pay after you make 106 800?
You are not taxed at all for Social Security on annual income above $106,800.
What is the total percentage of income that will be withheld from employee's paycheck for Social Security and Medicare taxes?
A total of 7.65% of your pre-tax income (6.2% for Social Security and 1.45% for Medicare Hospital benefits) is withheld from each paycheck until you reach the current earnings cap of $106,800. There is no earnings cap for the 1.45% Medicare Hospitalization contribution.Your employer pays a matching amount from company funds, bringing the total contribution on your behalf to 15.3% of the first $106,800 of salary.If you earn less than the maximum, you can easily calculate your total annual contribution by multilplying your base salary x .0765.For example:A person who earns $35,000 in 2010 will contribute $2,677.50 toward future retirement benefits, and his or her company would match that contribution for a total of $5,355.
