Calculating federal payroll tax is essential for businesses everywhere. It’s the process of determining how much tax an employee needs to pay — including Social Security, Medicare and other applicable taxes — based on their income level. It’s important to be meticulous and accurate when doing this calculation, as any mistakes can lead to penalties and future headaches. Payroll taxes are a legal obligation, and understanding them will help you make sure your business stays compliant. Plus, with the right tools and resources, calculating payroll taxes can be a breeze!