Snyder

FEBRUARY 12, 2023

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. So how is payroll tax calculated? What is a payroll tax?

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ThomsonReuters

FEBRUARY 9, 2022

Part 2 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including unemployment, disaster relief, paid sick leave, and international. The IRS updates Schedule A (Form 940) , Multi-State Employer and Credit Reduction State , annually. Payroll is everywhere.

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ThomsonReuters

JULY 7, 2021

In general, the federal income tax, Social Security tax, FUTA tax, Medicare tax, and Additional Medicare tax are considered employment or payroll taxes. There are several IRS forms used to report these taxes. Employers use Form 940 , Employer’s Annual Federal Unemployment (FUTA) tax return, to report FUTA tax.

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. My promise to you is that any question you have about payroll taxes will be answered and the high-level details you need to know about payroll taxes will be shared. Categories of US Payroll Taxes. Types of US Payroll Taxes. So let’s get started!

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ThomsonReuters

FEBRUARY 8, 2024

Now, if an LLC has employees in addition to its members, or owners, the LLC must collect and pay payroll taxes, which include unemployment, Medicare, and Social Security taxes — also known as FICA taxes (i.e., If it is a multi-member LLC: The LLC files Form 1065 , U. Federal Insurance Contributions Act), or “self-employment” tax.

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LyfeAccounting

NOVEMBER 4, 2020

So today I’m going to break down the forms and filings you need to have in place in order to avoid IRS penalties and keep your business compliant. First, it’s important to understand that there are different business structures and your business structure will determine the forms and taxes you’ll have to pay. Sole proprietorships.

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ThomsonReuters

MARCH 1, 2021

This makes a business’s payroll department very important since it is typically an employer’s greatest expense. And arguably the most important (and challenging) time to be a payroll professional, is during the period known as “year-end.” This can make March an interesting month for payroll professionals. Federal News.

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