Answer:
Deduction for social Security tax is $ 4976.864 and deduction for Medicare tax is $ 1163.944 .
Step-by-step explanation:
As given
Marika Perez’s gross biweekly pay is $2,768.
Her earnings to date for the year total $80,272.
Social Security taxes if the rate is 6.2% .
6.2% is written in the decimal form
\(= \frac{6.2}{100}\)
= 0.062
Social Security taxes = 0.062 × Gross pay
= 0.062 × 80272
= $ 4976.864
As given
Amount is deducted for Medicare is 1.45% .
1.45% is written in the form of decimal
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= 0.0145
Medicare tax = 0.0145 × Gross pay
= 0.0145 × 80272
= $ 1163.944
Therefore the deduction for social Security tax is $ 4976.864 and deduction for Medicare tax is $ 1163.944 .
