0
Do Employers and employees both have to contribute equal amounts o money into the Social Security Trust Fund?
Wiki User
∙ 13y ago
Yes that is correct.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is required by law for each individual social security account?
employers and employees both have to contribute equal amounts of money into the Social Security Trust Fund
What is the 'Form 940' used for?
The Form 940 is provided by employers to the IRS to report the amount of FUTA ( Federal Unemployment Tax) that they must pay for their employees. It shows which employees are considered for what amounts of tax incomes.
Can you contribute to your IRA if you are drawing social security?
You can contribute to an IRA if you are not yet 70 1/2 and have some source of W-2 / 1099 self employment income. Social security payments are NOT considered income that can be used to contribute to an IRA.
If the employer pays the employees' portion of the Social Security tax what is that percentage?
For the social security amount and the Medicare the total percentage is 15.3%. Employer and employee each is supposed to pay one half of the amounts. Employer Medicare 1.45% SS tax 6.2% equal 7.65%. Employee should be the same amounts.
How would you answer this Some of our employees choose to have prayer with patients or other employees This is a practice that is supported by Adventist Health How do you feel about employees having?
No fed or state law prohibits - or can prohibit - workplace prayer. Employment laws prohibit conduct by EMPLOYERS. As long as prayer does not consume significant amounts of paid work time, and is not imposed upon the patient by the employee, it is not harm.
You have already paid the social security max of 6621 for 2010 bu July 1 2010 if you switch employers will they also withhold the employ portion of social security again?
Yes they are required to withhold and match the amounts of your social security and medicare taxes from your gross wages, salary, etc.When you have more than one employer and the combined amounts of the social security tax are more than the 6621.80 maximum amount for the year 2010. When you file the 2010 federal income tax return in the year 2011 you will get a credit for any amount of the social security tax that were more than the maximum social security contribution amount on the 1040 tax form page 2 line 69 Excess social security and tier 1 RRTA tax withheld.You will have a worksheet in the instruction book for this purpose.Go to the IRS gov website and use the search box for Publication 505 go to chapter 3Excess Social Security or Railroad Retirement Tax WithholdingWorksheet 3-1.Excess Social Security---Nonrailroad Employees
What will consuming excess amounts of carbohydrate protein or alcohol will contribute to?
The potenial of alcoholismand obesity.
What is the most common amounts of weeks vacations given to employees?
Two and a half weeks.
Are the amounts paid to factory repair and maintenance employees considered direct labor?
yes
What is the ideal number of employees to manage?
There is no ideal number of employees to manage. Managing employees that are less than 10 tend to be easier than higher amounts. Many people are used to managing hundreds of employees either by themselves or in a team.
Where are the sports goods mainly manufactured in India?
So they do not have to pay the employees high amounts of money.
What contribute to excessive weight gain?
Numerous amounts of things can contribute to excessive weight gain. such as: Overeating, eating the wrong things & having a lack of physical exercise
