Real Business Solutions Knowledge Base

General Category => Payroll Software FAQ => Topic started by: Real Business Solutions on March 14, 2009, 11:11:11 PM



Title: What is FICA?
Post by: Real Business Solutions on March 14, 2009, 11:11:11 PM
Social Security and Medicare taxes are collected under two systems.
Self Employment Contribution Act (SECA), the self employed person pays all the taxes.
Federal Insurance Contributors Act (FICA) the employer and the employee each pay half of the taxes.