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    Insurance

    Question

    The highest paid executives of a firm are excluded from coverage under the Federal Insurance Contributions Act?

    True or False
    a few seconds ago 1 Answer

    Best Answer

    Kinda true. See, the majority of highly compensated executives, are NOT compensated via wages, but rather bonuses or stock shares, which are NOT subject to FICA taxes. Additionally, FICA maxes out, for 2010, at $106,800. Every dollar of salary you earn after that amount, is NOT subject to FICA taxes.
    a few seconds ago

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