UNDERSTANDING FICA, MEDICARE, AND SOCIAL SECURITY TAX

Do you ever wonder where exactly the money that is deducted from your gross pay goes? It can seem like a huge chunk when your gross pay and net pay are $100 or more off. So where is this money that

UNDERSTANDING FICA, MEDICARE, AND SOCIAL SECURITY TAX

Do you ever wonder where exactly the money that is deducted from your gross pay goes? It can seem like a huge chunk when your gross pay and net pay are $100 or more off. So where is this money that is being taken from your paycheck really going? Read on to understand the basics of FICA, Medicare, and Social Security tax.

https://www.paystubsnow.com/understanding-fica-medicare-and-social-security-tax/

#Business #FICA #MEDICARE #SOCIALSECURITYTAX #taxes

UNDERSTANDING FICA, MEDICARE, AND SOCIAL SECURITY TAX

FICA is an acronym for Federal Insurance Contributions Act. This act was introduced in 1930 to cover Social Security. Both you and your employer will pay into this tax. Now, the tax is divided into

UNDERSTANDING FICA, MEDICARE, AND SOCIAL SECURITY TAX

FICA is an acronym for Federal Insurance Contributions Act. This act was introduced in 1930 to cover Social Security. Both you and your employer will pay into this tax. Now, the tax is divided into Medicare and Social Security tax which is why you will probably see these two items on your paystub rather than just FICA.

#Fica #business #medicare #security #tax #paystub