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Determine your monthly gross salary

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Reference no: EM132533545

Question - Suppose your annual salary is $ 54,378.89. Assume that you get paid once per month. On your paycheck stub, you notice that the amount withheld for FICA Med Tax is$ 65.71, and the amount withheld for FICA SS Tax is $ 280.96.

Required -

a. Determine your monthly gross salary.

b. Determine the percentage of this monthly gross salary that is taken out for the FICA MedTax and also for the FICA SS Tax.

Reference no: EM132533545

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