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  Dictionary  »  Letter F  »  FICA expense - delivery

FICA expense - delivery

Under the accrual method of accounting, this account reports the employer's portion (matching) of the Social Security and Medicare tax that pertains to the period indicated in the heading of the income statement, whether or not the company has paid/remitted the FICA taxes within this time period. Since this account involves the delivery function of the business, the expense should be reported in the operating expense section of the company's income statement.


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