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Incorrect payroll deductions are often the result of employers charging their employees for benefits and services that they should be paying themselves. This includes: Federal unemployment tax (FUTA) State unemployment tax. Workers' compensation insurance.
Which of the following is not a statutory deduction? Union Dues.
There are four basic types of payroll taxes: federal income, Social Security, Medicare, and federal unemployment. Employees must pay Social Security and Medicare taxes through payroll deductions, and most employers also deduct federal income tax payments.
If you employ Massachusetts employees, you're required to comply with the PFML law. Learn more about the law, your obligations, how to make contributions, and other employer responsibilities.
Massachusetts employers have until Dec. 20 to opt out of the state's paid family leave program and elect private coverage that meets certain criteria. Employers may opt for such plans to be self-funded or fully insured. "Employers who wish to apply for a self-funded private plan exemption for the quarter beginning Oct.
Non-statutory DeductionsWhat is non-statutory deductions?Trade Union Dues.Personal insurance payments.Group Health and Pension Plan.Credit Union payments.
Almost all employers even those out-of-state employers with at least one Massachusetts employee, as well as certain independent contractors are subject to the new PFML requirements of the state. Municipal employers, districts and their instrumentalities are exempt, along with self-employed individuals.
What are payroll deductions?Income tax.Social security tax.401(k) contributions.Wage garnishments.Child support payments.
Box 14: Your employer may report additional tax information here. If any amounts are reported in Box 14, they should include a brief description of what they're for. For example, union dues, employer-paid tuition assistance or after-tax contributions to a retirement plan may be reported here.
Statutory payroll deductions include: payroll taxes, federal income tax, Social Security tax and Medicare tax, state income tax (if applicable) and local tax withholdings (if applicable) such as city, county, or school district taxes, and state disability.