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Learn About FICA


There are certain taxes on income that everyone has to pay, and FICA taxes are at the top of the list. And employers must withhold these taxes from employee paychecks and pay them to the Internal Revenue Service (IRS). FICA taxes are the Social Security and Medicare taxes paid by individuals and employers. FICA taxes are called payroll taxes because they are based on the amounts paid to employees.FICA taxes have two elements. withheld from employee paychecks and paid by employees and employers for…


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Employment Tax Explained


Before you set up your payroll system and hire your first employee, you need to know about the different types of employment taxes. What are Employment Taxes? Employment taxes are the taxes that you, your business, and your employees must pay to federal, state, and local agencies. Self-employment tax (Social Security and Medicare tax for self-employed business owners) is also considered an employment tax. Some taxes, like federal and state withholding, you just withhold from employee…


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Latest Resource
Learn About FICA
There are certain taxes on income that everyone has…
Employment Tax Explained
Before you set up your payroll system and hire your…
Employees Tax
The Internal Revenue Service uses the term "employment…


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