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US Payroll Taxes Explained (Everything You Need to Know)

LyfeAccounting

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. – Medicare.

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A Quick Guide to Payroll Tax Filings!

LyfeAccounting

Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. Payroll Tax Filings: Forms That You Need. Those are forms I9 and W-4.

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Do Small Businesses Get Tax Refunds?

MazumaBusinessAccounting

Do small businesses get tax refunds? It’s one of the most common questions we receive —in the same way that there are many types of taxpayers, you’ll find there are more than a few types of small business tax entities. Which Businesses Are Eligible for Refunds? Different Types of Taxes Businesses Pay.

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Do Small Businesses Get Tax Refunds?

MazumaBusinessAccounting

Do small businesses get tax refunds? It’s one of the most common questions we receive —in the same way that there are many types of taxpayers, you’ll find there are more than a few types of small business tax entities. Which Businesses Are Eligible for Refunds?

Tax 52
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How Much Is a Tax Consultant?

xendoo

They advise clients on income tax returns during tax season and help with financial matters, including trusts and estate planning. . They also should know recent tax law changes on both a federal and state level. . Tax consultants offer a wide variety of services. Helping to manage capital gains taxes.

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What to Do After You Start an LLC? 6 Critical Next Steps

LyfeAccounting

Additionally, if you plan to have employees you will need an EIN number to file your payroll taxes. But the biggest reason you need an EIN is to file your business taxes. Business credit is calculated based on your companies payment history, negative marks, and business information such as time in business.

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A Guide on How to Hire Your Kids and Pay Less in Taxes

LyfeAccounting

So why is hiring your children a beneficial tax strategy for you and your kids? You get a tax write-off for the pay you give them and in turn, your kids (or you) can use that income tax-free to help provide for what they need. However, it is only tax-free if you pay them under the standard deduction. It’s simple.

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