The FICA taxes on the employer represent both business expenses and liabilities of the employer.

Question

Quizplus · Accepted Answer

FICA taxes on the employer are considered business expenses as they are paid by the employer in order to compensate their employees properly. These taxes also represent liabilities of the employer as they are responsible for ensuring that the correct amount of FICA taxes are withheld and paid on behalf of their employees.

The FICA Taxes on the Employer Represent Both Business Expenses