Understanding Payroll Taxes: Payments, Penalties, and Deadlines
Taxes are a major part of the payroll process. Just like your business needs to pay employees, it also needs to pay taxes. Payroll taxes help your employees manage their annual tax burden, and by checking all the paperwork, ultimately prevents costly fines for your business. Unrelated to the profits of your business, payroll taxes are part of the payroll […]
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What Employers and Employees Need to Know About the Payroll Tax Deferral
There has been a great deal of uncertainty in recent weeks surrounding President Trump’s Memorandum on payroll taxes issued earlier this month (on August 8). Meant as economic relief during COVID-19, the Memorandum allows employers to defer withholding, deposit, and payment of the employee’s portion of the Social Security tax (6.2%) through the end of […]
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