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| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The Social Security Administration increased the taxable wage base from $106,800 to $110,100. The 6.2% tax rate is unchanged. Joe Burns earned over $120,000 each of the past two years.
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| a. |
What is the percent increase in the base?(Round your answer to the nearest hundredth percent.) |
Â
| Percent increase | % |
Â
| b. |
What is Joe’s increase in Social Security tax for the new year?(Round your answerto the nearest cent.) |
Â
| Increase in social security tax | $ |
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