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Flashcards in Pay Roll Taxes Deck (4)
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1

In addition to Federal Income taxes what are businesses required to withhold on employee payroll?

FICA (social security and Medicare).

2

Employee Payroll taxes are a burden upon who?

The Employee

3

What are the Employer Payroll taxes?

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

4

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

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