Adam is a part-time employee who earned $495.00 during the most recent pay period. He is married with two withholding allowances. Prior to this pay period, his year-to-date pay is $6,492.39. How much should be withheld from Adam's gross pay for Social Security tax?

Amount of Social Security tax = $30.69

Explanation:

given data

earned = $495.00

pay = $6,492.39

to find out

How much should be withheld from Adam's gross pay for Social Security tax

solution

we assume here no pre tax is deductions

and social security tax rate is 6.2%

so Amount of Social Security tax will be

Amount of Social Security tax = earned * social security tax

Amount of Social Security tax = $495 * 6.2%

Amount of Social Security tax = $495 * 0.062

Amount of Social Security tax = $30.69