Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
1)The FICA tax is made up of two parts. What are they? One cuts off $137,700 (2020) and the other is unlimited (no cut off).
1)The FICA tax is made up of two parts. What are they? One cuts off $137,700 (2020) and the other is unlimited (no cut off). Explain which is which. Who pays the tax: employer, employee, both? Explain 2) Who pays unemployment tax into the fund: employer or employee? When are these benefits paid out? Explain 3)Which payroll taxes are considered "employer burden"? Why? 4)In the entry to distribute the payroll, which account gets the indirect labor, the make-up guarantee and sometimes the overtime premium? Explain
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started