Here are three of the more common types of professional liability insurance: 1  Malpractice insurance: This coverage is designed especially for medical professionals. It protects against suits that allege negligence or mistakes.
June 28, 2009. Besides regular income tax, federal laws require your employer to collect Social Security and Medicare taxes separately and send in the money to pay for your coverage under these plans. OASDI is the government acronym for Old Age, Survivor and Disability Insurance, better known as Social Security. Pay slip with pen and notebook.
Your OASDI taxable wages are your earnings that are subject to OASDI tax, which is also called Social Security or FICA tax. Your taxable wages for OASDI purposes might be either your gross wages or your wages after applicable deductions. OASDI is short for the federal Old Age, Survivors and Disability Insurance program, and FICA is the Federal Insurance Contributions Act. Gross Wages Before you determine taxable wages for OASDI purposes, you must determine your gross wages; this is your entire pay before deductions.