00:01
So lastly, 10 months of each case, the amount of social security and medicare tax we would have in each case around two different places.
00:10
This charlie lee cumulative earning year -to -date is $201 ,800 and earning last week is $7 ,695 .90.
00:22
So first of all, let's talk about the social security tax.
00:26
For social security tax, there is a cap.
00:44
This cap is $142 ,800.
00:50
When you have the income less or equal to $142 ,800, the social security tax rate is 6 .2.
01:01
Sorry 6 .2 but when you have an income that is greater than 142 ,800 then no additional social security tax is withheld so from from there, we can see that charlie lee has an income of $201 ,800.
01:50
This exceeds the social security tax cap of $142 ,800.
02:02
Therefore, this belongs to the case we just talked about.
02:05
When the income is greater than $142 ,800, no additional social security tax is withheld.
02:14
So this means that it's going to be a zero...