Cindy Kramer, 38, works well over 60 hours a week juggling four different jobs in Staten Island, New York, to support her child and make ends meet. Two of those jobs are bartending.

it’s the federal payroll tax. A total of 7.65% of your gross wages goes to federal taxes. Your employer matches these percentages: 6.2% to Social Security 1.45% to Medicare Individuals with ...

Calculating, withholding, and depositing these taxes — commonly known as payroll taxes or federal employment taxes — can be the most confusing aspect of processing payroll. The financial ...

Figuring out taxes on your own for the first time? One of the most important types of taxes to understand are FICA taxes ...

SEE: When Are Payroll Taxes Due? While employers can calculate payroll by hand using the IRS’s federal income tax withholding tables, a paycheck calculator, or a spreadsheet template ...

Federal payroll tax increases will be the most significant change in 2025. For both employers and employees, the maximum CPP contribution will increase to $4,034 (for workers earning $71,300 or more).

The two Steves (Forbes and Moore) pressed again for the flat tax in a New Year’s Eve Wall Street Journal editorial. While ...

After decades of paying federal wage taxes ... Unfortunately, the amount some people will pay in Social Security payroll taxes on their wage income could increase in 2025 because of one of ...

But if average revenues are less than $5 million, they will qualify for the R&D credit of up to $250,000 as an offset against federal payroll taxes. Costs that qualify for the credit include ...

An employer, regardless of the number of workers they employ, must maintain all records pertaining to payroll taxes (income tax withholding, Social Security and federal unemployment tax ...