Providing health insurance benefits to your employees can leave you with a lot of questions. If you have your employees contribute to their premiums, you have to know how to deduct the cost from their gross pay. But, are payroll deductions for health insurance pre-tax? Read on to learn the answer to this question and […]
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Payroll Taxes - Tips, Training, and News
What Is Self-employment Tax?
Are you self-employed? If so, you better keep reading. Self-employed individuals must pay a unique payroll tax called self-employment tax. What is self-employment tax?
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Payroll 101: How to Set up Payroll for a Small Business
Hired your first employee? Check. Set a start date? Check. Ready to process payroll? Not quite yet. Before you can start paying your employees, there are a few steps you need to know and some terms to learn. This handy payroll 101 guide explains how to set up payroll the right way so you can […]
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What Are Payroll Taxes?
Employers juggle many responsibilities, including calculating and withholding payroll taxes and other deductions. But, what exactly does payroll taxes include? And, how do you know how much to withhold from employees’ wages? If you’re wondering about understanding payroll taxes, never fear—your payroll taxes breakdown is here.
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Who Pays Payroll Taxes? Understanding the Responsibilities for Employers and Employees
Whenever you cut a check for an employee, the employee isn’t the only one receiving money. You must withhold payroll taxes from employee wages and remit them to the proper agencies. Depending on the payroll tax, you must match employee contributions. But, not all payroll taxes are created equally. So, who pays payroll taxes? Is […]
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What Is the Bonus Tax Rate?
Picture your star employees and how much value they add to your business. Many employers recognize their employees’ value with bonus pay. When you give an employee a bonus, you are required to withhold taxes on the additional money. To figure out how much to withhold, you need to understand the bonus tax rate.
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How to Fill Out Form 944: Step-by-step Guide
All employers are responsible for reporting employee wage and tax information to the IRS. Many employers use Form 941 to report this information each quarter. But, some eligible small business owners use Form 944 to report wages and taxes annually instead. Are you one of them? If so, you need to learn how to fill […]
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What Employers Need to Know About Taxable Wages
Part of being an employer is withholding taxes from your employees’ wages before giving them their paychecks. That’s why you need to understand taxable wages before you run payroll.
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Which Taxes Have a Wage Base?
If you’re an employer, you likely know that withholding, contributing, and remitting employment taxes is essential to running legal and accurate payrolls. Before calculating how much to withhold and contribute, you need to know about the tax wage base.
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Commuter Benefits 2024: Transport Your Employees to Better Tax Savings
Most employees expect certain workplace benefits, such as health insurance or retirement plans. But coming up with unique and appealing perks, like commuter benefits, can further your chances of attracting and retaining top talent.
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