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Match the following:
-baby boomers
State Unemployment Contributions
Taxes paid by employers to state government funds for unemployment compensation programs.
Percentage Method
A way of calculating withholding taxes on an employee's pay by using percentages defined by tax tables based on the employee's earnings and filing status.
Federal Withholding
The process by which an employer deducts a portion of an employee's income and pays it directly to the government as an advance payment of the employee's tax liability.
FICA
Federal Insurance Contributions Act, the U.S. law that requires a payroll tax on both employees and employers to fund Social Security and Medicare.
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