Determine the net amount paid on employee paychecks, the total liabilities the employer is responsible for paying, and the total cost of payroll. Given information: Total employee wages earned $75,000

Federal income taxes withheld 9,200

Employer is paying the required rate for FICA taxes at, the typical federal unemployment tax rate at 6%, and the initial base rate for state unemployment taxes at 2.7%. It is important to note: No employee has earned more than $7,000 yet this year. Explain in your own words what it means that the total cost of payroll is more than just the salary you offer your employees. What special considerations do employers need to keep in mind when hiring employees? (200-250 word response)

Employee checks: ; Total liabilities: + Total cost of payroll