Estimated Income Tax Payments

Medicare Tax
The hospital insurance portion of the tax assessed on compensation and self-employment earnings under the Federal Insurance Contributions Act (FICA). The Medicare tax is 2.9% of all earnings, with employers and employees each responsible for a portion.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.