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re: GEOTUS Payroll Tax Holiday?
Posted on 8/11/20 at 1:42 pm to VoxDawg
Posted on 8/11/20 at 1:42 pm to VoxDawg
quote:
What Americans don't realize is that when your employer is calcuating how much it costs to pay you annually, they're figuring in that other half that they pay for you. On the books, you cost them $107,500. (At a minimum. The part of your healthcare insurance and other benefits get factored into your cost of employment, too).
we refer to that as labor burden. depending on the employee, burden includes:
employee portion of FICA
Employee portion of Medicare
FUTA (federal unemployment)
SUTA (state unemployment)
workers comp
other insurances
401k match
employer health insurance premium portion
we can range from 28-33% burden, meaning that for every $1.00 that an employee gets on their check that we pay another $0.28-0.33. IE, employee makes $100k/y we pay $128k-133k for said employee
Posted on 8/11/20 at 2:03 pm to tigeraddict
quote:
we can range from 28-33% burden, meaning that for every $1.00 that an employee gets on their check that we pay another $0.28-0.33. IE, employee makes $100k/y we pay $128k-133k for said employee
Wow, so my WAG on $130k for the $100k salary was pretty spot on.
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