To calculate federal payroll taxes, the following rules are followed:
Social security – Employees, as well as employers, pay 6.2% up to $1,60,200.
Medicare – Employees and employers pay 1.45% of taxable wages.
Additional medicare – Those earning more than $200,000 must pay an extra 0.9% tax.
Calculation of payroll taxes can be made easy with the help of payroll services Brampton as they are specialized in these operations. You are only a few steps away from receiving top-quality payroll services for your business.