What are common payroll deductions taken from employee earnings?

The correct answer highlights essential components of payroll deductions that are mandated or commonly recognized at the federal level. Federal withholding refers to the income tax that employers are required to withhold from employees' earnings, which is then sent to the government on behalf of the employees. This ensures that employees are contributing to federal tax obligations in a timely manner.

Social security deductions are also a key aspect, as they contribute to the Social Security program, which provides benefits for retirees, the disabled, and survivors of deceased workers. Both the federal withholding and social security contributions are standard legal requirements for payroll processing and are critical for compliance with federal law.

The other options involve deductions and compensation methods that do not typically fit within standard payroll deductions. Health insurance premiums and retirement contributions are indeed deductions but may typically reflect optional or voluntary deductions based on employee elections rather than common mandatory deductions. Bonuses and commissions are forms of earnings rather than deductions, while life insurance and travel expenses are not standard payroll deductions; these may be offered as benefits but do not usually fall under the typical deductions from paychecks.