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FICA tax is a combination of the Social Security tax and the Medicare tax. That is there is $765 tax for every $10,000 earned. Jon paid $3,557.25 last year in FICA tax. What was Jon's income last year?

Respuesta :

Two taxes combination

Total payed last year = $ 3,557.25

THEN if

For $10000. Then $765 is deduced

For $ 50000. 5x 765 is deduced = 3825, it surpases tax

For $40000. 4x 765 = 3060 is deduced

Then its between $40000 and $50000

Calculate now 3557.25 - 3060 =$ 497.25

THEN $497.25 Is equivalent to 65% of taxes. Then this amount taxed was $6500

In consecuence , Jon's income last year was

$40000+ $6500 = $46500 dollars