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Flashcards in Pay Roll Taxes Deck (4)
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In addition to Federal Income taxes what are businesses required to withhold on employee payroll?

FICA (social security and Medicare).


Employee Payroll taxes are a burden upon who?

The Employee


What are the Employer Payroll taxes?

FICA equal to that of the employees, Federal Unemployment Insurance, and State Unemployment Insurance.


What are the two (2) EMPLOYER payroll related expenses?

1. Employee Salary/Wage Expense
2. Employer's Payroll tax expense.