Question
Discuss which payroll taxes are the responsibility of the employee and which are the responsibility of the employer. Be certain to include how you would
Discuss which payroll taxes are the responsibility of the employee and which are the responsibility of the employer. Be certain to include how you would record these entries.
Joe is paid, in cash, $1,000 for the week just ended.Use the following information to determine Joe's take home pay and the total payroll, federal and state, tax expense for the company Joe works for.
Federal Income tax3% of gross pay
State Income tax2% of gross pay
Social Security tax6.2% of gross pay
Medicare tax1.45% of gross pay
State Unemployment Tax5.4% of gross pay
Federal Unemployment Tax.8% of gross pay
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