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2 years ago

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

Business

1 answer:

strojnjashka [21]2 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

Retirement benefits
Survivor benefits
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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Bill and Mike go in together to purchase 342 acres of land to use for hunting and family vacations. Ten years later, Bill dies a

romanna [79]

Answer:

Joint Tenancy

Explanation:

Joint tenancy represents a legal contractual arrangement that involves two or more people who have agreed to own a single property sharing both obligations and rights equally.

The terms of join tenancy is such that no one whether the partner or an inheritor of will is able to sell the property in future without the consent of other partners. Secondly, when a partner dies joint tenancy does not transfer assets to heirs instead it is vested in the surviving partner.

It becomes that Bill did not name his wife as his beneficiary, hence Mike inherits the entire 342 acres of land after Bill's death.

4 0

3 years ago

Companies that spend more time and effort attracting, developing, and retaining the best people often report superior financial

drek231 [11]

Answer:

The statement is correct as well as true

Explanation:

Financial results or the performance, is the subjective measure or criteria of how well the business or the firm could use the assets from the initial mode of the business and create revenues.

In short, it is evaluated through earning or the loss which consequence from the financial affairs.

So, if the company is spending as well as retaining and developing the best people of their company, will often result in superior as well as healthy results, which means generate a good amount of revenue for the company by producing the goods.

6 0

3 years ago

Which of the following statements, if any, represent a principal's duty to an agent who works on a commission basis?

Lena [83]

Answer:

Explanation:

Here both statements I and II represent a principal's duty to an agent who works on a commission basis.

that is The principal is required to maintain pertinent records and pay the agent according to the terms of their agreement and also he is required to reimburse the agent for all authorized expenses incurred unless the agreement calls for the agent to pay expenses out of the commission.

Hence, option C is correct

4 0

3 years ago

Question 15 Multiple Choice Worth 5 points)

Fiesta28 [93]

Answer:

She filled for bankruptcy last year.

7 0

3 years ago

"The interest rate charged from the banks to broker-dealers on loans where securities are collateral is the:"

vampirchik [111]

Answer: broker loan rate

Explanation:

The broker loan rate is also refered to the call loan rate and it is the interest rate that is charged from the banks to broker-dealers on loans where securities are collateral.

It should be noted that the iterest rates that are given on broker loan rates are just a little above the short term interest rates.

6 0

2 years ago