Understanding your obligations surrounding employee taxes is crucial for operating a successful business, whether you're an employer or an aspiring entrepreneur. In this episode, we explore the four primary types of employee taxes: • Federal and State income tax Withheld by employerEmployer responsible for submitting• FICA Funds Social Security and MedicareEmployer responsibility is 7.65%• FUTA Federal unemployment taxPaid by employer to fund state unemployment programs• State Un...
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Understanding your obligations surrounding employee taxes is crucial for operating a successful business, whether you're an employer or an aspiring entrepreneur. In this episode, we explore the four primary types of employee taxes: • Federal and State income tax Withheld by employerEmployer responsible for submitting• FICA Funds Social Security and MedicareEmployer responsibility is 7.65%• FUTA Federal unemployment taxPaid by employer to fund state unemployment programs• State Un...
Understanding Employer's Responsibilities For Employee taxes
The Private Medical Practice Academy
9 minutes
2 years ago
Understanding Employer's Responsibilities For Employee taxes
Understanding your obligations surrounding employee taxes is crucial for operating a successful business, whether you're an employer or an aspiring entrepreneur. In this episode, we explore the four primary types of employee taxes: • Federal and State income taxWithheld by employerEmployer responsible for submitting• FICAFunds Social Security and MedicareEmployer responsibility is 7.65%• FUTAFederal unemployment taxPaid by employer to fund state unemployment programs• State Unemploy...
The Private Medical Practice Academy
Understanding your obligations surrounding employee taxes is crucial for operating a successful business, whether you're an employer or an aspiring entrepreneur. In this episode, we explore the four primary types of employee taxes: • Federal and State income tax Withheld by employerEmployer responsible for submitting• FICA Funds Social Security and MedicareEmployer responsibility is 7.65%• FUTA Federal unemployment taxPaid by employer to fund state unemployment programs• State Un...
