Baker earned $113,300 of salary as an employee in 2012. how much should his employer have withheld from his paycheck for fica taxes (rounded to the nearest whole dollar amount)? $1,643$8,667$6,267$6,401

Employer should withheld $1,643 from Baker's salary

Explanation:

Baker earned $113,300 in 2012. As on 2012, FICA tax rate withheld from employee's salary is 7.65% that constitutes 4.5% of social security, 1.45% of medicare taxes and 2% additional for employees whose wages exceed $18,350.

The gross income base for social security part has increased in 2012 to $110,100. This is not applicable for medicare tax of 1.45%.

Here, Baker's salary of $113,300 is above social security limit, so his income will not be withheld for social security. However, 1.45% of his salary will be withheld for medicare tax.

Therefore, $1,643 that is 0.0145×113,300 is withheld from his salary.

answer is a

explanation:

commercial banking

provide online payment services

provide online banking

asset management firms

invest in people's funds in securities

accept tax return refunds