Employment Taxation

Employment taxation refers to the taxes that employers are required to withhold from their employees' wages and pay on their behalf. This includes income tax, Social Security, and Medicare taxes in the United States. Employers also contribute additional taxes, such as unemployment insurance. These taxes fund various government programs and services, including healthcare and social security benefits. Employees typically see these deductions on their paychecks, and accurate reporting and payment of these taxes are essential for compliance with tax laws. Both employers and employees share the responsibility of employment taxation.