Thoughts, Ideas, and Concepts by Sandra Parks

PAYROLL TAXES!!!!

Payroll taxes include the Social Security tax and the Medicare tax. Social Security taxes provide benefits for retired workers, the disabled, and the dependents of both. The Medicare tax is used to provide medical benefits for certain individuals when they reach age 65. Workers, retired workers, and the spouses of workers and retired workers are eligible to receive Medicare benefits upon reaching age 65. Federal income taxes are used to provide for national programs such as defense, community development, and law enforcement.

Can you answer these questions?  Answer will be released tomorrow.

  1. Employees decide when to pay their payroll taxes.
  • A. True
  • B. False
  1. Federal income taxes are used to pay the interest on the national debt.
  • A. True
  • B. False
  1. The Medicare tax rate is 1.45% of gross pay.
  • A. True
  • B. False
  1. Employees use Form W-4 to prove that they are eligible to work in the United States.
  • A. True
  • B. False
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Comments on: "PAYROLL TAXES!!!!" (3)

  1. The answers are as follows:
    B
    A
    A
    B

  2. Nice quiz to make sure HR knows what they are doing with the payroll when it is being done in house. Maybe a great one to give potential HR employees.

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