BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which tax do you pay when you pay FICA?
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inheritance tax
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excise tax
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payroll tax
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None of the above
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Explanation:
Detailed explanation-1: -FICA taxes are a combination of Social Security and Medicare taxes that total 15.3% of your earnings. You are responsible for half of the total bill (7.65%), which includes a 6.2% Social Security tax and 1.45% Medicare tax on your earnings.
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