What would you like to do?

How do you calculate the employer's portion of payroll taxes?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

The employer portion of the payroll taxes is computed by multiplying the gross wage by the appropriate percentage assigned to that tax. For example, the social security percentage would be 6.2% each for the employer and the employee. Medicare would be 1.45% for each. Your state/county will each have their own percentages. Answer 1. The employer pays one half of the FICA taxes at 7.65% (Medicare is 1.45% - OASDI is 6.2%)
2. The employer pays Federal Unemployment Tax (FUTA) which is calculated at .8% of the first $7000 of employee wages - works out to $56 per employee per year if they make over $7000.00.
3. The employer pays State Unemployment Taxes - rates and amount vary by State. The remaineder of the taxes are withheld from the emplyees paychecks.
Thanks for the feedback!

Meaning of payroll and how is it calculated in payroll?

A payroll is, in layman's terms, the out goings a company has to spend on its staff or human resources. These are often very complicated and difficult to figure out due to fac

How can you pay a payroll tax liability?

  If you owe payroll taxes to the IRS and are unable to pay the full amount you have a few options and it is also based on whether or not your company is still in operatio

What is a payroll and how is it calculated?

Payroll In a functional accounting sense, "payroll" consists of an employer's activities related to the compensation it pays to its employees (payroll accounting, payroll tax

What computer software is used to calculate the payroll?

The best software to use is MS-Office Worksheet, which is efficient and helpful. But a bigger company might use more-advanced and more-specific software.   There are many p

How to calculate capital gain tax?

If this is a business asset then you will have to use the 1040 tax form 4797 to report the transaction on. You will use the information that is on the 1099-B to report the tra

What portion of the WACC calculation is impacted by the marginal taxes?

The WACC is determined from two separate calculations, one based on the cost of equity and the other on the cost of debt. The 'cost of debt' calculation can take into account

Can you file taxes without one employer's W-2 if they have not sent it and what are your legal responsibilities?

    Answer     First - Not receiving these, or any form I can think of - is NEVER an acceptable excuse for not acting/reporting as if you had. Yes, in fact,

Employers incur operating costs for which payroll taxes?

Besides salaries and wages earned by employees, employers incur costs for various payroll taxes, including the employer's share of Social Security and Medicare, workers' compe