which of the following is paid by the employer only? course hero

What is paid by the employer only?

And here are the ones that employers are responsible for: Social Security tax (shared between employers and employees) Medicare tax (shared between employers and employees) Federal unemployment tax (employer only) State unemployment tax (employer only in most states)

Which of the following taxes are not included in the employer's payroll taxes?

The answer is (d), Federal and state income taxes. Income taxes are only paid by the employee, although it is you—the employer—who deducts them from your employee's wages.

Which of the following are required to be deducted from employees paychecks?

Some mandatory payroll tax deductions that employers are required by law to withhold from an employee's paycheck include: Federal income tax withholding. Social Security & Medicare taxes – also known as FICA taxes. State income tax withholding.

Which payroll taxes are paid by employers?

Employer Payroll Taxes Social Security taxes of 6.2% in 2020 and 2021 up to the annual maximum employee earnings of $137,700 for 2020 and $142,800 for 2021. Medicare taxes of 1.45% of wages2 Federal unemployment taxes (FUTA) State unemployment taxes (SUTA)

Which of the following taxes is paid by the employee and the employer?

Social Security tax is paid by both the employee and employer. It is one part of FICA tax. Social Security is a total flat percentage of 12.4%.

What are employer deductions?

Payroll deductions are wages withheld from an employee's total earnings for the purpose of paying taxes, garnishments and benefits, like health insurance. These withholdings constitute the difference between gross pay and net pay and may include: Income tax.

What are 2 examples of employer contributions?

Common Types Of Retirement Plans Offered By Employers401(k) Plan. This is the most common type of employer-sponsored retirement plan. ... Roth 401(k) Plan. This type of plan offers the same benefits as a traditional Roth IRA with the same employee contribution limits as a traditional 401(k) plan. ... 403(b) Plan. ... SIMPLE Plan.

Which of the following are examples of fringe benefits provided by employers to their employees?

What Are Fringe Benefits Examples. Some of the most common examples of fringe benefits are health insurance, workers' compensation, retirement plans, and family and medical leave. Less common fringe benefits might include paid vacation, meal subsidization, commuter benefits, and more.