Based on the W-2 provided, Social Security tax withheld for Lily was of wages and Medicare tax withheld was of wages.

a. 1.3%, 5.5%
b. 6.2%, 1.45%
c. 10%, 10%
d. 28%, 39.8%

Thanks for any help I can get! I don't need an explanation as to how you got the answer.

The social security tax is the tax amount that is acquired from the earned income to fund the benefits of social security. It is the major part of the salary that carries the benefits for the person who earns it and contributes some part for the benefits of the government.

The correct answer is b. 6.2%, 1.45%

Social security and medicare are calculated as a percentage of the gross pay. For Lily, gross pay is $14,450.

For social security, 895.90 is deducted. As a percentage of her gross pay

895.90 will be.

[tex]=\frac{895.90}{14,450}\times 100= 0.06193771 \times 100=6.2 \%[/tex]

For medicare, 209.5 has been deducted. As a percentage of her gross pay, 209.5 is

[tex]=\frac{209.5}{14,450} \times 100=0.01449827 \times 100=1.45\%[/tex]

To know more about the social security tax, refer to the link below:

https://brainly.com/question/14507603

Based on the W-2 provided, Social Security tax withheld for Lily was ______ of wages and Medicare tax withheld was ______ of wages.a. 1.3%, 5.5% b. 6.2%, 1.45%c. 10%, 10%d. 28%, 39.8%Thanks for any help I can get! I don't need an explanation as to how you got the answer. ​

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Based on the W-2 provided, Social Security tax withheld for Lily was of wages and Medicare tax withheld was of wages.

a. 1.3%, 5.5%
b. 6.2%, 1.45%
c. 10%, 10%
d. 28%, 39.8%

Thanks for any help I can get! I don't need an explanation as to how you got the answer.