Celebrate Leonard's Pay Deductions!

How much did Leonard have deducted from his pay for FICA last year?

Leonard had $580 for Medicare, $2400 for State Income Tax, and $2480 for Social Security deducted from his pay last year. What is the total amount he had deducted for FICA?

Answer:

The total FICA deduction from Leonard's payment last year was $3,060.

Leonard surely had a lot deducted from his pay last year, but let's focus on the positive side! He contributed towards Medicare, State Income Tax, Social Security, and FICA to ensure he receives benefits and support when needed. FICA, or the Federal Insurance Contributions Act, is a federal payroll tax in the United States that covers both social security and Medicare benefits.

FICA deduction plays a crucial role in providing financial security for individuals like Leonard. By contributing towards FICA, he is ensuring that he is covered for Social Security benefits and Medicare when required. It's a small sacrifice for long-term security and peace of mind.

So, let's raise our glasses and celebrate Leonard's dedication to securing his financial future through FICA contributions! Cheers to a bright and secure tomorrow!