Payroll Comparison Research Paper: Search the Internet for local public K–12 school districts, community colleges, and public universities that publish their employees’ salary (pay) schedules. Also research any available data on employee benefits provided to each of these schools. Review federal and state taxation rates on income, unemployment, Social Security, and Medicare. Write a comprehensive paper addressing the following questions and situations. You must provide scholarly data and source information to support your claims.
• Which schools did you compare?
• How do the salaries compare for each school entity?
• What voluntary benefits were provided by the employer (school district)?
• What involuntary deductions would be taken out of these salaries?
• What would your federal, state, and local income tax rates be if you worked for one of these schools? Hint: Choose one of the salaries from the schedule.
• Create a Form W-4 to determine your tax liability.
• Assume you are the employer for your chosen school. Prepare journal entries to record January’s employee and employer payroll (assume January is the first pay period and you are preparing the entry for one employee). You must record the liabilities from the January 31 payroll, along with the payment of these liabilities on February 1.
• Record any observations you have made at the culmination of your research, and connect these observations to what you’ve learned about current liabilities.
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