Place the pot on the stove and turn the heat to high. Check for steam escaping from under the lid, then lift the lid carefully to see how the water is doing. Look at the water. If large bubbles are rising from the bottom of the pot to the surface, the water is boiling.
Usually, the employer and the employee pay the same amount for Social Security tax, but there have been exceptions. For example, the employee rate in 2011 and 2012 was 4.2 percent. Employers paid 6.2 percent. As of the time of publication, employers and employees each pay 6.2 percent.
A third federal payroll tax is the Federal Unemployment Tax Act (FUTA) tax. Employers pay an effective rate of 0.6 percent on the first $7,000 of a workerâs wages, up to $42 per worker per year. The revenues mainly go toward financing the administration of state unemployment insurance programs.