Include Social Security and Medicare taxes.
Taxes based on the payroll of any business (this is typically based on employee total earnings)
A tax based on wages and salaries that is deducted from employees pay cheques.
The cost of employing someone. Payroll taxes include FICA, federal and state unemployment taxes, worker's compensation, and state short-term disability programs.
Social Security is funded by a 12.4 percent mandatory payroll tax on the first $90,000 of an employeeâ€(tm)s income ($90,000 is the FY2005 Income Cap). 6.2 percent of this tax is paid by the employee and 6.2 percent is paid by the employer.
Includes Social Security and Medicare taxes.
A tax based on wages, tips and salaries paid. The tax is deducted from the employees pay.
Your employer deducts a certain amount from your paycheck to pay for taxes. This tax money funds many finance specific programs, including social security, health care and worker's disability. These programs might not mean a whole lot to you now, but you may likely benefit from them when you're older.
A variety of taxes that are imposed on the amounts paid to employees. In the U.S. this usually includes the Social Security Tax, the Medicare Tax and the federal and state unemployment tax.