Place the pot on the stove and turn the heat to high. Check for steam escaping from under the lid, then lift the lid carefully to see how the water is doing. Look at the water. If large bubbles are rising from the bottom of the pot to the surface, the water is boiling.
Usually, the employer and the employee pay the same amount for Social Security tax, but there have been exceptions. For example, the employee rate in 2011 and 2012 was 4.2 percent. Employers paid 6.2 percent. As of the time of publication, employers and employees each pay 6.2 percent.
Related Terms: Electronic Tax Filing; FICA Taxes; Tax Withholding. Payroll taxes are all taxes that are collected, by federal, state, and local governments, based on salaries and wages paid to employees. These taxes must be withheld from wages by all businesses that have employees.