Payroll tax includes both the tax that your employer withholds from your paycheck and in turn pays to the government on your behalf, along with the payroll taxes paid by your employer. In the United States, Social Security and Medicare (together referred to as FICA) and Federal Income Taxes (or Federal Withholding) are deducted from …
Category: Bookkeeping
5 Advantages of Outsourcing Your Accounting Department
Business Owners Find Outsourcing Their Accounting Operations Benefits Everyone Are you a business owner overwhelmed with bookkeeping? Does payroll make you want to pull your hair out? Have you spent countless hours trying to make sense of spreadsheets? Majority of business owners experience the same headaches and frustration when it comes to tracking their own …
What Should Small Businesses Know About 1099s?
The IRS is not known for making things easy. For small business owners especially, tax time is generally filled with frustration, uncertainty, and probably a few extra hours at your kickboxing class. Here are the answers to 10 of the most common questions that many small businesses have when it comes to 1099 forms. Which …