Question 3 Which of the following taxes are considered Federal Insurance Contribution Tax (FICA)taxes? (Select all that apply) a Medicare tax b Social Security tax c Medicaid tax d Income tax e None of these are a FICA tax f All of these are a FICA tax

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Question 3 Which of the following taxes are considered Federal Insurance Contribution Tax (FICA)taxes? (Select all that apply) a Medicare tax b Social Security tax c Medicaid tax d Income tax e None of these are a FICA tax f All of these are a FICA tax

Answer 1

## Step 1The Federal Insurance Contributions Act (FICA) is a United States federal payroll tax that funds Social Security and Medicare. This means that the taxes that are considered FICA taxes are those that fund these programs.## Step 2Medicaid tax is not a FICA tax. Medicaid is a joint federal and state program that helps with medical costs for some people with limited income and resources. It is not funded by FICA taxes.## Step 3Income tax is not a FICA tax. Income tax is a tax that governments impose on individuals and businesses based on their income. It is not funded by FICA taxes.## Step 4Therefore, the correct answers are options a (Medicare tax) and b (Social Security tax).

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Question 3 Which of the following taxes are considered Federal Insurance Contribution Tax (FICA)taxes? (Select all that apply) a Medicare tax b Social Security tax c Medicaid tax d Income tax e None of these are a FICA tax f All of these are a FICA tax

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