which of the following statements explains the relationship between social security and medicare taxes? a…
which of the following statements explains the relationship between social security and medicare taxes? a. both social security and medicare are applied to all wages up to the maximum taxable earnings. b. both social security and medicare are applied to all wages without limit. c. medicare is applied to all wages up to the maximum taxable earnings. social security is applied to all wages without limit. d. social security is applied to all wages up to the maximum taxable earnings. medicare is applied to all wages without limit. please select the best answer from the choices provided a b c d
Answer
Brief Explanations:
Social - Security tax is levied on wages up to a maximum taxable amount, while Medicare tax is applied to all wages without a limit. This is a key difference in how these two payroll taxes operate.
Answer:
D. Social Security is applied to all wages up to the maximum taxable earnings. Medicare is applied to all wages without limit.