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Which of the following statements is true of FICA taxes? a. The employer bears the full burden of the Medicare component of this tax. b.
Which of the following statements is true of FICA taxes?
a. The employer bears the full burden of the Medicare component of this tax. |
b. The Medicare component is paid only on the first $117,000 of an employee's earnings. |
c. The Social Security component is paid on all earnings. |
d. In 2014, the total FICA tax rate was 15.3%, allocating 12.4% to Social Security and 2.9% to Medicare. |
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