Asked by Jailah Armstrong on Jun 01, 2024
Verified
Compute the total deductions.
FICA-OASDI
The Federal Insurance Contributions Act Old-Age, Survivors, and Disability Insurance program, which funds Social Security and is paid for by payroll taxes.
FUTA
An abbreviation for the Federal Unemployment Tax Act, which imposes a payroll tax on businesses to fund state workforce agencies.
SUTA
State Unemployment Tax Act - a tax that U.S. employers pay to their state to fund unemployment benefits.
- Understand the various elements of payroll deductions and how they are computed.
Verified Answer
Learning Objectives
- Understand the various elements of payroll deductions and how they are computed.
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