What is the difference between payroll taxes&income taxes?

Answer Payroll taxes and income taxes are two sources of revenue for the government. Payroll taxes are also known as FICA taxes.FunctionPayroll taxes only apply to earned income such as wages, salaries an... Read More »

Top Q&A For: What is the difference between payroll taxes&in...

How to Pay Payroll Taxes?

Employers are responsible for withholding and paying payroll taxes for employees. They are required to withhold Federal Income Tax, Social Security and Medicare Taxes. You may also be responsible f... Read More »

How are payroll taxes deducted?

Employers are required by law to withhold payroll taxes from employees' paychecks and pay them to the government. The amount of payroll tax withheld depends on the type of tax being deducted.Federa... Read More »

Types of Payroll Taxes?

Payroll taxes are a diverse and complex subject; the laws are ever-changing. The regulations for these taxes are issued on a federal or state level. In some cases, city or local laws may apply. Th... Read More »

What does the employee pay on payroll taxes?

The employee pays federal income tax, which is based on his Form W-4 and the IRS' withholding tax tables. He also pays Medicare tax--6.2 percent of his gross income, up to $106,800 for year 2010 an... Read More »