question archive The wage base for which of the following taxes is capped? A) Federal income
The wage base for which of the following taxes is capped? A) Federal income
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The wage base for which of the following taxes is capped?
A) Federal income.
B) Social Security.
C) Medicare.
D) Alternative minimum
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Anwer is (C): Social Security.
Federal income tax and Alternate minimum tax will not have any wage caps. Self employement tax is paid by employee and cap will not be applicable. Social security tax will be deducted by employer, therefore cap will be applicable.
