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Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

CPA Practice

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. By Nellie Akalp. for both employees and employers.

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Last Week in Payroll: Keeping Up with Taxes

ThomsonReuters

Shortly thereafter, colonists raised the issue of taxation without representation in protest and within a year’s time the British government repealed the Stamp Act tax. So, why the brief history lesson on American Colony taxes? To illustrate the point that there are a lot of taxes to keep up with, even back in Colonial times.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. Other than income tax, your small business may be subject to payroll taxes, self-employment taxes, and more. You’ll also withhold income tax from employees’ wages.