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Payroll Tax Expense
Taxes that employers are required to pay on behalf of their employees, such as social security and Medicare taxes.
Wage Base Limits
The maximum amount of income that is subject to social security or other payroll taxes within a tax year.
Payroll Tax Expense
The employer’s expense associated with the employment taxes (Social Security, Medicare, and unemployment taxes) on the wages paid to employees.
Federal Unemployment Taxes
Taxes paid by employers based on employee wages/salaries to fund unemployment compensation to workers who have lost their jobs.
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