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2.10.4 Test (CST): Income and Budgeting
Question 6 of 25

FICA deductions consist of:

A. Medicare and Social Security
B. Medicaid and Social Security
C. Income tax and health insurance
D. Pension and Medicare

SUBMIT

Sagot :

GinnyAnsweridn

Final answer:

FICA deductions include Medicare and Social Security, which are payroll taxes funded through the Federal Insurance Contributions Act (FICA).


Explanation:

FICA deductions consist of Medicare and Social Security. These deductions are a percentage of the gross annual income, with Social Security at 6.2% and Medicare at 1.45%. FICA stands for the Federal Insurance Contributions Act, which helps fund Social Security and Medicare.


Learn more about Income Deductions here:

https://brainly.com/question/42398086


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