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What is FICA?

Started by Real Business Solutions, March 14, 2009, 11:11:11 PM

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Real Business Solutions

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.
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