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Chapter 9 Weekly Discussion

Chapter 9 Weekly Discussion

Q Chapter 9 - Weekly Discussion 1. Describe which payroll taxes are the employer's responsibility. 2. Explain and give an example of an estimated liability. RUBRIC: **5 points are awarded for a post that correctly and the answer with proper punctuation and grammar. This post is typically is a full paragraph with at least 5-8 sentences. **3 points are awarded for a post that is "mostly" correct and complete with proper punctuation and grammar. This post is typically close to a full paragraph with at least 3-5 sentences. **1 point is awarded for a post that is incorrect and/or incomplete. **0 points are awarded to those that do not answer the question

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Payroll taxes are the tax withheld, charged, or levied on the payroll of an employer. This includes all gross salaries, wages, perks, or any other forms of remuneration paid to their employees. Employer's taxes are: Social security tax Medicare tax Federal unemployment taxes (FUTA) State unemployment taxes (SUTA) Applicable local taxes for the employer Liabilities that are known to exist but whose amount cannot be precisely determined until a future date are known as estimated liabilities.