Multiple Choice
Bill James earned $800 for the week. If his cumulative earnings are $40,000 prior to this pay period, how much FICA-OASDI must his employer withhold from his earnings? FICA tax rates are OASDI 6.2% on a limit of $128,400. (Round your answer to the nearest whole dollar.)
A) $496
B) $5
C) $50
D) None of the above is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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