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Why is it important to prepare friendly witnesses or clients for deposition testimony?
FICA Taxes Payable
Amounts due for Social Security and Medicare taxes, required to be withheld from employees' paychecks and matched by employers.
Payroll Tax Expense
Taxes that employers are required to pay based on the salary and wages paid to employees, including social security and Medicare taxes in the United States.
SUTA Payable
A liability account in the general ledger that records amounts owed to the state unemployment insurance program, to be paid by employers.
Social Security Tax
A payroll tax paid by employees and employers to fund the Social Security program, which provides retirement, disability, and survivorship benefits.
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