객관식
Which of the following taxes is typically withheld from an employee's paycheck?
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9. Current Liabilities
Payroll and Payroll Taxes
객관식
What percentage of their wages does an employee pay for FICA (Federal Insurance Contributions Act) taxes?
A
7.65%
B
2.9%
C
1.4%
D
15.30%
검증된 단계별 안내1
Understand that FICA taxes consist of two components: Social Security tax and Medicare tax. Social Security tax is 6.2% of wages, and Medicare tax is 1.45% of wages.
Add the percentages of Social Security tax (6.2%) and Medicare tax (1.45%) to determine the total percentage of wages paid by the employee for FICA taxes.
Express the calculation as a formula: Total FICA percentage = Social Security tax percentage + Medicare tax percentage.
Substitute the values into the formula: Total FICA percentage = 6.2% + 1.45%.
Verify that the total FICA percentage matches one of the provided answer choices.
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