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If Joey worked for himself and called his company “Joey’s Construction Company” and made $20,750 per year, how much would he pay per year in total Social Security and Medicare tax?

If Joey worked for himself and called his company Joeys Construction Company and made 20750 per year how much would he pay per year in total Social Security and class=

Respuesta :

Answer:

He would pay $3,154 in Social Security and Medicare tax

Explanation:

Given that Joey worked for himself, he must pay doule the amount of Social Security and Medicare taxes to the government.

This makes 15.2% of $20,750

[tex]\begin{gathered} =\frac{15.2}{100}\times20750 \\ \\ =3154 \end{gathered}[/tex]

He would pay $3,154 in total Social Security and Medicare tax

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