In 2015, the Maximum Amount of Wages Subject to the Social

question 74

True/False

In 2015, the maximum amount of wages subject to the Social Security portion of the FICA tax is $118,500.

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Definitions:

Carbonyl Group

A functional group consisting of a carbon atom double-bonded to an oxygen atom, with the formula C=O.

Organic Compound

A chemical compound containing carbon atoms covalently bonded to other elements, typically hydrogen, oxygen, and nitrogen, among others.

Hydrocarbon Alkyne

A type of hydrocarbon that contains at least one carbon-carbon triple bond, part of the alkyne class of organic compounds.

Carbon Atoms

The fundamental building blocks of organic molecules, known for forming a vast number of compounds due to their ability to form stable bonds with themselves and other elements.