The Fidelity Retiree Health Care Cost Estimate assumes individuals do not have employer-provided retiree health care coverage, but do qualify for the federal government’s insurance program, original Medicare. The calculation takes into account Medicare Part B base premiums and cost-sharing provisions ...
Which of the following requires employers to deduct federal income tax from employee earnings? a. FUTA b. SUTA c. Fair Labor Standards Act d. Current Tax Payment Act Which of the following payroll taxes is the employee's responsibility? A. Federal Income Tax, FICA SS & Medicare, FUTA B...
It’s not really a “tax” issue per se, but what irritates me most is the IRMAA surcharge on Medicare premiums. It drives me nuts every year trying to stay short of the triggering limits. Here’s what Harry Sit says about it on his site–The Finance Buff: “In the grand scheme, ...
However, in recent decades, there has been a switch toward managed care in Medicaid and Medicare. More than two-thirds of all Medicaid beneficiaries receive most or all of their care from contracted managed care organizations.21(The state contracts with one or more health plans; enrollees might ...
Still, keep in mind that you'll need to pay self-employment taxes, which come out to an extra 15.2% between Social Security and Medicare. Which structure is better for taxes? Both LLCs and sole proprietorships offer different advantages when it comes to taxes, but it's widely agreed that...
An employee earned $4,300 working for an employer. The current rate for FICA Social Security is 6.2% and the rate for FICA Medicare is 1.45%. What is the employer's total FICA payroll tax for this employee? What to do with the final paycheck...
The employer is responsible for which of the following payroll taxes? a. 6.2% Social Security b.1.45% Medicare tax c. Federal and state unemployment taxes d. All of the above Which of the following payroll taxes do employers pay on employees? A. SU...