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How to Set Up Online Payroll for Your Small Business

xendoo

Not only do you have to calculate wages, but you must also account for employment taxes—income, Social Security and Medicare. Then there’s all the paperwork you need to report to the government. . How to Set Up Payroll. For example, a few states like Florida do not collect state income taxes.

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??Tax Attorney Weighs In on Payroll Tax Provisions in FY 2024 Budget?

ThomsonReuters

Using its regulatory authority, the IRS implemented the Certified Professional Employer Organization (CPEO) program that includes staffing companies and payroll companies, so that such businesses may be treated as the statutory employer for  Code Sec. 3401(d)  purposes and be liable for the federal employment and income tax withholding.