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FICA Taxes
Taxes imposed on both employees and employers to fund Social Security and Medicare, based on a percentage of the employees' wages.
Gross Earnings
The total income earned by an individual or business before any deductions or taxes.
Federal Income Taxes
Taxes imposed by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
Net Pay
The amount of money an employee receives after deductions such as taxes and retirement contributions are subtracted from their gross salary.
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