A.
What would your tax amount be ?
(Hint: Your Gross Amount x's your tax bracket percent)
B.
What would your Net Pay be?
(Subtract: A-B)
C.
What is the amount before taxes called ?
What is the amount after taxes called ?
Let's Breakdown Some of These Taxes !
The below taxes are paid to help our Senior Citizens, of which we will all be one day.
FICA =
Federal Insurance Contributions Act
Social Security Insurance
MCARE =
Medicare
Medical Insurance for the elderly and disabled people.
What would your FICA Tax be on your Gross Pay above ?
What would your MCARE Tax be on your Gross Pay above ?
What was the total amount of (FICA & MCARE) taxes you paid ?