FICA Taxes

Employment Tax
Employment tax refers to the taxes that employers must pay based on the wages they pay to their employees. These taxes include federal income tax withholding, Social Security and Medicare taxes (FICA), federal unemployment tax (FUTA) and, for self-employed individuals, self-employment tax.

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.