FICA Taxes
Response to the following problem:
For each of the following scenarios, compute the amount of each employee's Medicare taxes owed (to be refunded) that they report on their respective tax returns.
a. Mia, a single taxpayer, works for two employers during the year. Medicare wages at her jobs are $85,000 and $150,000, respectively
b. Shawn, a single taxpayer, works for two employers during the year. Medicare wages at his jobs are $215,000 and $35,000, respectively.
c. Ron and Patty Simone file a joint tax return. Both Ron and Patty work full-time. Their Medicare wages are $210,000 and $120,000, respectively.
d. Same as in Part c., except that Patty's wages are $20,000 (instead of $120,000).