Employers pay 6.2% Social Security + 1.45% Medicare + FUTA + SUTA per employee.
FUTA is 6% on first $7,000 per employee, reduced by state credit to ~0.6%.
This calculator earns its keep at decision points: before accepting a loan, comparing investment platforms, or negotiating salary. The difference between the headline figure and the true cost or return is only visible with accurate arithmetic.
Many financial calculation errors stem from omitting ancillary costs: fees, taxes, insurance, or maintenance. The headline figure (interest rate, monthly payment) is rarely the complete cost of a financial product.
A small business owner compares two financing options for new equipment: a 5-year bank loan at 5.2% versus a leasing arrangement with a monthly fee. The calculator translates both into a total cost figure, making the comparison straightforward.
Employers match employee FICA (7.65%) and pay FUTA (0.6%) and state unemployment (SUTA, varies by state).
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