Social security and medicare taxes 1 answer key 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by reviewing the introductory section that outlines the F.I.C.A. tax rates for Social Security and Medicare. Familiarize yourself with the formula provided: Gross Pay x Tax Rate = Tax Withheld.
3. Proceed to each question, starting with Randy Bumgarner's earnings. Calculate his Social Security tax withholding by applying the 6.2% rate to his gross monthly salary of $3,600.00.
4. For each subsequent individual listed, repeat the calculation process for both Social Security and Medicare taxes using their respective salaries and the provided tax rates.
5. Ensure all answers are clearly written in the designated spaces provided on the form for easy reference.

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