A percentage of an hourly wage rate (or salary) that represents the employer’s additional costs
of employee benefits such as paid vacation days, paid sick days, insurance (health, dental, life,
worker compensation), retirement plans, federal and state employer payroll taxes (Social
Security, Medicare, unemployment insurance), cafeteria, daycare, etc.
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For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
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