Payroll deductions

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Payroll Deductions
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• Payroll deductions are amounts withheld from an
  employee's payroll check, and these amounts are
  withheld by their employer.

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• FICA is an acronym for "Federal Insurance
  Contributions Act." FICA tax is the money that is
  taken out of workers' paychecks to pay older
  Americans their Social Security retirement and
  Medicare (Hospital Insurance) benefits. It is a
  mandatory payroll deduction

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• How FICA Taxes Calculated

To calculate the FICA withholding for employees,
you must take the employee's gross pay (including
overtime) and multiply by the employee rate of
7.65.
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• Stands for Federal Medicare/Employer-Employee tax
  and it is used to fund the federal Medicare
  insurance program. Every American is allowed to
  access the Medicare health insurance program,
  which includes many basic services for free.

While there are parts of Medicare that the
subscriber must pay for, services such as
hospitalization and emergency services are
covered by the Fed MED/EE tax.
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How Much Is The Tax?

• The total amount of the Fed MED/EE tax is 2.9
  percent of gross pay. For people who are employed
  by a company, the employee pays half of the tax
  and the company pays the other. If you are
  self-employed, then you pay the entire 2.9
  percent on your own.

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• Contact Pay-Stub
• WebSite https//www.pay-stubs.com/
• Mail Us info_at_pay-stubs.com