Common payroll expenses explained
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Common payroll expenses explained
The true cost of an employee runs 20% to 30% above their base salary. Here's what makes up the difference. Understanding payroll expenses goes beyond gross wages. As a business owner, you're also on the hook for taxes, benefits, and other indirect costs that add up fast: • FICA taxes — 6.2% Social Security + 1.45% Medicare paid by employers ...
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