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Accounting

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To help pay for college, you worked part-time at a local restaurant, earning $20,000 in wages and tips. Use the following information to complete parts (a) through (c).
Employee's Rates
7.65% on first $142,800 of income
1.45% of income in excess of $142,800
Matching Rates Paid by the Employer
7.65% on first $142,800 paid in wages
1.45% of wages paid in excess of $142,800
Self-Employed Rates
15.3% on first $142,800 of net profits
2.9% of net profits in excess
of $142,800
Click the icon to view the 2021 marginal tax rates.
a. Calculate your FICA taxes.
The FICA taxes are $
(Round to the nearest cent as needed
2021 Marginal Tax Rates
\table[[2021 Marginal Tax Rates and Standard Deductions],[,\table[[Unmarried,],[divorced, or],[legally separated]],\table[[Married and each],[partner files a],[separate tax return]],\table[[Married and both],[partners file a],[single tax return]],\table[[Unmarried and paying more],[than half the cost of],[supporting a child or parent]],,],[Tax Rate,Single,\table[[Married Filing],[Separately]],\table[[Married],[Filing Jointly]],\table[[Head of],[Household]],,],[10%,up to $9950,up to $9950,up to $19,900,up to $14,200,,],[12%,$9951 to $40,525,$9951 to $40,525,$19,901 to $81,050,$14,201 to $54,200,,],[22%,$40,526 to $$86,375,$40,526 to $86,375,$81,051 to $172,750,$54,201 to $86,350,,],[24%,$86,376 to $164,925,$86,376 to $164,925,$172,751 to $329,850,$86,351 to $164,900,,],[32%,$164,926 to $209,425,$164,926 to $209,425,$329,851 to $418,850,$164,901 to $209,400,,],[35%,$209,426 to $523,600,$209,426 to $314,150,$418,851 to $628,300,$209,401 to $523,600,,],[37%,more than $523,600,more than $314,150,more than $628,300,more than $523,600,,],[\table[[Standard],[Deduction]],$12,550,$12,550,$25,100,$18,800,,]]
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