Teach me about payroll taxes?
Originally posted 2010-04-15 19:02:57. Republished by Blog Post Promoter
,,Isn’t the government more concerned about their payroll taxes, then you getting your payroll? ,Facts About Payroll Taxes ,lordkelvin where did you get your information about payroll taxes.? ,Question about Payroll Taxes and NYSUI? ,What should the government be doing now about the Social Security System? Should it increase payroll taxes,? ,Comments (5)
what is there to know? withholding, SS, and in some states mandatory disability and unemployment.
Federal withholding taxes
State withholding taxes
A withholding tax is a tax prepayment (not optional) its why kids will get a refund every April and parents don’t have to pay as much because of the prepayment.
County, City, School other local taxes are just income taxes paid to that entity
Social Security/Medicare – Paid to those entities so people can use the program and probably you many years from now
Employers match Social Security/Medicare and pay an Unemployment tax also
That is a pretty big order! If you really wish to learn something like that you need to find a school that teaches those subjects.
That’s a bit complicated to try to explain in this form but. . .
An employer is required to withhold certain taxes from employees’ paychecks, such as social security, medicare, federal tax and state tax. The employer must also contribute a matching amount of the social security and medicare tax.
See this free link.
http://www.paycheckcity.com/NetPayCalc/netpaycalculator.asp