Payroll Taxes Demystified: The Impact of Social Security, Medicare, and FUTA on Employees and Employers - Legalization Profiles

Payroll Taxes Demystified: The Impact of Social Security, Medicare, and FUTA on Employees and Employers - Legalization Profiles

Payroll taxes are an essential part of the U.S. tax system, directly funding important programs that provide support for citizens across various stages of life. Social Security, Medicare, and Federal Unemployment Tax (FUTA) are some of the most significant payroll taxes that both employers and employees contribute to. Understanding these taxes can help workers and employers navigate their financial responsibilities and understand how their contr…