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Elodia [21]
3 years ago
14

Where does the money you pay for the FICA tax on your paycheck go?

Business
1 answer:
strojnjashka [21]3 years ago
4 0

Answer:

see below

Explanation:

Social security and medicare taxes form the Federal Insurance Contributions Act (FICA) tax. These taxes are deducted from both the employer and employee per paycheck.

Social security tax forms the bulk of the FICA tax. The tax revenue collected as social security tax funds the United States government Social Security Trusts. The trusts are programs managed by the Social Security administration and include

  1. Retirement benefits
  2. Survivor benefits
  3. Disability benefits

Medicare tax revenue funds Federal government medicare programs. This program caters to older American health care costs.  The government's general revenue also finances health care. Medicare or health services in the USA are not solely dependent on medicare tax.

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How does the use of plastic to produce bicycle helmets affect other plastic-using industries? A. It decreases the prices offered
zheka24 [161]

Answer:

The correct answer is option D.

Explanation:

The use of plastic to produce bicycle helmets will reduce the amount of resources available to other industries that use plastic. If an industry is making helmets from plastic, they are using plastic as inputs in the production process. This will cause a reduction in the quantity of plastic available.

This plastic is used by other industries as well. They will experience a reduction in the resources available to them.

5 0
3 years ago
The person who receives financial protection from a life insurance plan is called a what?
Marina CMI [18]
The person who receives financial protection from a life insurance plan is called a Beneficiary

3 0
3 years ago
Tell me more about an relationship​
Alona [7]

Answer:

A relationship is a true bond that you form with someone. It’s not like, “oh yea, I know that person. They’re nice I guess.” A relationship is like, “We are totes besties.” lol. Or special relationships are like, “That person is so nice. I kinda like-like them. Maybe I’ll ask them to the school dance.” B-u-u-u-t, sometimes other relationships can just be a connection you have with someone. I know this is kinda funny. lol. Good luck, and I hope this helps!

7 0
3 years ago
You have just retired with savings of $2 million. If you expect to live for 57 years and to earn 7% a year on your savings, how
galben [10]

Answer:

Annual withdraw= $143,023.66

Explanation:

Giving the following information:

Present value (PV)= $2,000,000

Number of periods (n)= 57

Interest rate (i)= 7% a year

<u>To calculate the annual withdrawal, we need to use the following formula:</u>

Annual withdraw= (PV*i) / [1 - (1+i)^(-n)]

Annual withdraw= (2,000,000*0.07) / [1 - (1.07^-57)]

Annual withdraw= $143,023.66

6 0
3 years ago
Sarah exchanges a building and land (used in her business) for Tyler’s land and building and some equipment (used in his busines
oksano4ka [1.4K]

Answer

The answer and procedures of the exercise are attached in the following image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

5 0
3 years ago
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