Which of the following are payroll costs for employers? (Select all that apply.)Check All That ApplyEmployee contribution to retirement planEmployee contribution to retirement planEmployer contribution to retirement planEmployer contribution to retirement planEmployee portion of FICA taxesEmployee portion of FICA taxesEmployer portion of FICA taxesEmployer portion of FICA taxesFederal and state income taxesFederal and state income taxesFederal and state unemployment taxes
Question
Which of the following are payroll costs for employers? (Select all that apply.)Check All That ApplyEmployee contribution to retirement planEmployee contribution to retirement planEmployer contribution to retirement planEmployer contribution to retirement planEmployee portion of FICA taxesEmployee portion of FICA taxesEmployer portion of FICA taxesEmployer portion of FICA taxesFederal and state income taxesFederal and state income taxesFederal and state unemployment taxes
Solution
The payroll costs for employers include:
- Employer contribution to retirement plan
- Employer portion of FICA taxes
- Federal and state unemployment taxes
These are costs that the employer is directly responsible for. The other options listed (employee contribution to retirement plan, employee portion of FICA taxes, and federal and state income taxes) are typically deducted from the employee's wages and are not considered direct costs to the employer.
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