Learn how to calculate payroll taxes in these easy steps. Follow our guide for accurate tax deductions, tips, and tools to simplify payroll processing. Calculating your employees’ gross pay is ...

Thus, these payments qualified as SUCBs, not subject to payroll taxes, and eligible for a refund. Payments made to employees on standby, who remained subject to recall on an as-needed basis and who ...

The FUTA tax is 6% of each terminated employee's FUTA wages, but this typically results in a net 0.6% tax rate if you qualify for applicable tax credit reductions, according to the IRS.

In 2023, legislators enacted a 0.7% payroll tax to take effect in 2026. The tax hasn’t even hit employers yet, but lawmakers already have boosted the rate to 0.88% since then.

The Social Security Administration on Oct. 10 announced a higher threshold for earnings subject to Social Security payroll taxes. For 2025, the "taxable maximum" will be $176,100, up about 4.4% ...

Social Security taxes are the 6.2% taken out of your paycheck each month (up to $168,600, the 2024 taxable maximum) while FICA refers to the combination of Social Security and Medicare taxes.