What is the FICA deduction on payroll checks?

Answer FICA taxes are withholdings mandated by the Federal Insurance Contribution Act. FICA withholdings are contributions to the Social Security and Medicare systems, which provide financial support and ... Read More »

Top Q&A For: What is the FICA deduction on payroll checks

How many checks does an employer send to the insurance company under a payroll deduction plan?

Normally the employer sends 12 checks, One per month.. however most companies that are in the worksite market canaccommodate other modes, like weekly. biweekly and semimonthlyCompanies that are com... Read More »

What is the maximum FICA deduction?

The Federal Insurance Contributions Act, or FICA, tax includes Social Security--6.2 percent--and Medicare--1.45 percent. The Medicare taxes are not capped. For 2010, wages up to $106,800 are subjec... Read More »

What is an oasdi payroll deduction?

OASDI stands for Old age, Survivors, and Disability Insurance which is the name for the Social Security payroll tax. The tax is deducted directly from your paycheck.FunctionThe OASDI tax is levied ... Read More »

How to Calculate Payroll Deductions for FICA?

The Federal Insurance Contributions Act (FICA) controls the collection of Social Security and Medicare taxes. Consequently, these withholdings sometimes are noted on employee paychecks as FICA tax... Read More »