February 26th, 2013
FICA is taken out of your earned income. What is the intended purpose for this tax and what percent is taken out per paycheck?
FICA is taken out of your earned income. What is the intended purpose for this tax and what percent is taken out per paycheck?
The intended purpose of FICA is to fund Social Security and Medicare (programs that benefit persons with disabilities, children of deceased workers, and people who are retired). 12.4% is paid into Social Security and 2.9% is paid into Medicare per paycheck. However, if you are a salaried or wage employee, you would only have to pay half of those percentages.
Nice job, Katherine. A very clear and concise answer. The regular employee pays 7.65% of their earned income from their gross income. The small business owner gets a tax credit for the other half to even it out. Great work, Katherine.
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Thanks Deborah! Once I saw that I could give away signed coeips via a free contest, I jumped at the opportunity. If this goes well, I may do it again later in the fall. I am hoping the story of creating Postive Energy with the Self will touch Lives of Ones I would never have the chance to meet. The free Kindle download from Amazon begins September 22nd if you have one even if you don’t have a Kindle, anyone can download for free the Kindle Reader on their computer in order to read Kindle books. I would love it if you will read the book and give it a review whatever you wish to say from your Heart.Peace to you and thanks again for loving the story.Greg
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hello, tape was released by “Cause for cnerocn” label in 1983. It has unreleased studio material from 1977. initial first release in 23 copies, second edition of 230 copies…… Cause for Concern is most known for the tape compilation “A sudden surge of power” (with Mex, Gambit of shame, Cultural Amnesia, 12 cubic feet etc and many more…) and Nocturnal Emissions – Chaos LP.
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