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Business Math Help !?

you report a taxable income of $140000 in 2010. the medicare tax rate for that year is 1.45% with no salary cap. how much do you pay for medicare tax?

1 Answer

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  • ?
    Lv 6
    8 years ago
    Favorite Answer

    since there is no salary cap, we tax everything

    $140,000 * 1.45% = $2,030

    the Medicare tax is $2,030

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