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Zabein Wilson
on Nov 13, 2024

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FICA-Medicare

A) Amount is limited, withheld from employee only
B) Amount is limited, withheld from employee and matched by employer
C) Amount is limited, paid by employer only
D) Amount is not limited, withheld from employee only
E) Amount is not limited, withheld from employee and matched by employer
F) Amount is not limited, paid by employer only

FICA-Medicare

Part of the U.S. payroll tax that goes towards Medicare, providing health insurance for individuals over 65 and for certain younger people with disabilities.

Withheld

Refers to a portion of an employee's wages not paid directly to them but retained by the employer for income tax or other purposes.

Matched By Employer

Typically refers to contributions to retirement plans or other benefits that an employer makes, matching the employee’s contribution to a certain percentage.

  • Identify the distinctions among diverse payroll elements and their tax treatment features.
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Kaliyah AbrianaNov 13, 2024
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