One possible solution to a diminishing Social Security payroll is to increase the Social Security tax by 1.89%. How would such an increase effect the tax on an annual salary of $54,000?

a.

Annual tax would increase by $1,020.60.

b.

Annual tax would increase by $2,327.40.

c.

Annual tax would increase by $3,348.00.

d.

Annual tax would increase by $4,368.60.

Question

Annabelle Cline

23 February, 08:16

+5

Answers (1)

Know the Answer?

Jaylon Singh · Answer 1

The answer would be A).

Multiply $54,000 by 0.0189 to find out how much the tax would be increased by.

You get 1020.60