Problem:
Mahmet earned wages of $115,650 during 2013. He is single and claims two withholding allowances.
Required:
Question: How much will Mahmet's employer withhold in social security taxes for the year?
- $7,049.40.
- $7,167.20.
- $7,170.30.
- $7,494.00.
Note: Provide support for your rationale.