U1 P5 Social Security and Medicare 2021-2022

Front

What percent of your earnings goes to Medicare?

Back

1.45%

Front

What percent of your earnings goes to Social Security?

Back

6.2%

Front

How much Social Security tax is withheld from a gross pay of $500 at a standard rate of 6.2%?

Back

$31

Front

How much Medicare tax will be withheld from a gross pay of $750 at a standard rate of 1.45%?

Back

$10.88

Front

What is the current rates for Social Security and Medicare?

Back

Social Security: 6.2%, Medicare: 1.45%

Front

EVERY taxpayer pays the same tax rate for Medicare, no matter how much you make.

Back

True

Front

Federal government program that supports health care for individuals over 65

Back

Medicare

Front

What percent of gross are payroll taxes (social security + medicare)?

Back

7.65%

Front

If gross income is $24,388, Social Security is 6.2%, and Medicare is 1.45%, what is the Social Security Tax due?

Back

1,512

Front

If gross income is $24,388, Social Security is 6.2%, and Medicare is 1.45%, what is the Medicare Tax due?

Back

354