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23 September, 17:20

Mark the correct answer. FICA taxes are:

A. Paid by the employee and by the employer.

B. 7.65 percent of earned income up to $150,000.

C. Not subject to cost of living adjustments each year.

D. 7.65 percent of all earned income with no limitations.

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  1. 23 September, 17:32
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    A. Paid by the employee and by the employer.

    Explanation:

    The FICA taxes which are Medicare and Social Security are determinate each year. There is a celling for Social Security at which the employee nor the employee stop paying taxes

    while the Medicare has a bracket after a certain income from wages at which, increases

    Both, the celling and increase in Medicare rate are determinate for each year. and must be paid by both the employee and employer
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