BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What does FICA consist of?
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Health Insurance
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Social Security & Medicare
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Federal & State Taxes
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Employer Sponsored Retirement
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Explanation:
Detailed explanation-1: -FICA is a U.S. federal payroll tax. It stands for the Federal Insurance Contributions Act and is deducted from each paycheck. Your nine-digit number helps Social Security accurately record your covered wages or self-employment. As you work and pay FICA taxes, you earn credits for Social Security benefits.
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