Withholding tax is the amount of money that an employer withholds from an employee's paycheck stub to pay for federal and state income taxes.FICA stands for Federal Insurance Contributions Act. It is a payroll tax used to fund Social Security and Medicare programs
Medicare is a federal health insurance program that provides coverage to people 65 years old or older and some younger people with disabilities.A paycheck stub period is a period for which an employee is paid, such as a week or a month.To calculate your hourly pay rate, divide your gross pay by the number of hours worked during the pay period.
