Asked by Kevin Aguirre on Apr 23, 2024
An example of a required deduction from an employee's paycheck is ____.
A) healthcare insurance
B) unemployment tax
C) FICA tax
D) health savings account contributions
E) child care deductions
Required Deduction
A mandatory subtraction from gross income, such as taxes or social security contributions, which lowers taxable income.
Unemployment Tax
A tax imposed by governments on employers based on the wages paid to employees, used to fund unemployment compensation programs.
FICA Tax
A federal tax in the United States, consisting of a Social Security tax and a Medicare tax, deducted from employees' paychecks to fund these programs.
- Grasp the critical aspects of legal and documentation requirements for managing employee compensation and taxation.
Learning Objectives
- Grasp the critical aspects of legal and documentation requirements for managing employee compensation and taxation.
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