Welcome to Payroll Taxes Guide
Delinquent Payroll Taxes Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
The Importance of Paying Employer Payroll Taxes
from:Are you planning on starting your own business? If so, it is good to find things out about the business beforehand so that you don’t make any costly rookie mistakes. After all, some people who start fresh often lose their businesses if they don’t handle things properly. Some even end up paying hefty fines and going to jail over their mistakes. To make sure this doesn’t happen to you, you should learn as much as possible.
One of the things that you need to know very well is the taxes that you’ll need to pay. For example, most new business owners don’t realize that they will have to pay some of the payroll taxes. They assume that it all just gets taken out of their employee’s paychecks. Well, that’s wrong. In reality, your company is responsible for paying half of the FICA taxes. If you don’t you could be in quite a bit of trouble. These are the employer payroll taxes that you must pay in order to be a legally sound company.
The FICA taxes are very specific. It is the employer payroll taxes for both social security and Medicare. When it comes to social security, you are allowed to withhold 6.2% of your employees’ earning. That portion will go toward paying that tax. Then it is up to you to pay an additional 6.2%. Essentially, that means that both you and the employee are taking equal responsibility in paying that tax. Then, with Medicare, you each pay 1.45% separately. In other words, your portion of the FICA employer payroll taxes will equal 7.65%. This is what your company is responsible for when it comes to all of your employees. You need to do this for each of them.
How much of the employer payroll taxes have a lot to do with how much you pay your employees and how many employees you have to begin with. The bigger your company is, the more you will pay in these taxes. This is necessary and a good thing for your company.
To make sure that you are paying the right money in employer payroll taxes and that you are taking the right amount of taxes out of your employees’ checks, you should use a combination of software programs and accountants. This is especially the case when you have a large company that has many employees. The more employees you have, the more likely you are to make a mistake with the calculations in regards to taxes. Since this can cause a lot of problems, it’s better to get them right the first time.
Delinquent Payroll Taxes Specific Links
Howie Mandel from the Buy.com shoot
- See Howie Mandel show you how to get the best 'deal' shopping online at buy.com.
-- http://www.youtube.com/
Women's Shopping Finds!
- Latest Trends and Fashion in Shopping, Style & Beauty
-- http://www.shefinds.com/
Win a Nintendo Wii
- Visit GamePro.com and find out how you can win a Nintendo Wii.
-- http://www.gamepro.com/
Delinquent Payroll Taxes News
McCain’s $300 Billion Mortgage Plan: Better Than the $700 Billion ... - Wall Street Journal
At Monday night’s Presidential Debate, John McCain dropped an economic bomb: he suggested that the U.S. Treasury should buy up mortgages and renegotiate their terms . Republican presidential candidate Sen. John McCain speaks at the town hall-style ...
Read more...October September August July June May April March February January ... - Nypress.com
Sky Studios , featured in an episode of “ Sex and the City ” and widely considered prime Manhattan marriage space, incited the wrath of eight bridezillas when owner Jonathan Leitersdorf reportedly sold it for $17 million . Eight blushing brides ...
Read more...Bookkeeper charged with theft - Herald Tribune
The bookkeeper for Environmental Plant Resources Inc., a Duette nursery, was arrested Wednesday on charges of fraud, forged checks and criminal use of personal identification. Sheriff's detectives reported that Shari Mong, 44, of the 4800 block of ...
Read more...Police briefs - Herald Tribune
Detectives say Shari Mong kept sales tax money and gave herself raises. Sarasota County is holding a community cleanup Saturday from 8 a.m. to 3 p.m. for the Laurel area, and will provide extra Dumpsters at four locations for unwanted materials ...
Read more...Lawbreaking telecoms still conniving to obtain immunity from Congress - Salon
Over the past several months, Democratic Senators Jay Rockefeller and Harry Reid have been the two most valuable instruments in the Bush administration's efforts to obtain vastly expanded warrantless eavesdropping powers and immunity for lawbreaking ...
Read more...